Shipping line ESL
Ethiopian Shipping Lines S.C. is the only company involved in sea freight activity in the country. The company, in its long sea transportation service manage to build a reputation of reliability, efficiency and good service. It gives a liner service in North Continent and Mediterranean route, Far East route, Arabian Gulf route and Indian Sub Continent route. It also gives a Cross Trade service mostly from Europe to Red sea and Gulf ports.
Forty years ago ESLSC launched its first service along the UK/North and West Europe route, which was then major direction of the country's import and export trade. In the course of its development the Company has further expanded its service to include the Mediterranean, Adriatic, the Far East areas, Gulf regions and the Red Sea in view of the growing traffic movements on these routes. At present ESLSC that has effective agency networks in all its trading areas for assisting shippers from Ethiopia or abroad in arranging and consolidating their shipments, uses the port of Djibouti as its base and provides liner services to specified ports on regular sailing schedules subject to sufficient inducement. The Company's ships also call at other ports en route. Besides its former and current fleet, ESLSC has made agreement on slot charter arrangement, with a number of other shipping companies such as Maersk Sealand, P&O NedLloyed, APL, PIL, NYK, and Hyundai etc. Such a global practice enables ESLSC to give a weekly service for containerized & RO/RO shipment from any of its trading routes.
Cargo Lifting and Finance:
ESLSC from the time of its inception had to pass through lots of challenges and cope up with a highly demanding and dynamic international shipping business environment. Despite stiff competitions, ESLSC has achieved fame in bringing the volume of cargo and of course total income and profit of the company to a satisfactory level. More over, building on past tradition, ESLSC is committed to avail itself of the new situation to develop a capacity entirely tailored to satisfying customer's needs.
ESLSC, which has recently acquired two more vessels(Shebele and Gibe), looks ahead to serve its esteemed customers at an even larger and better scale, and is always vigilant to provide efficient, prompt and dependable service.
Ethiopian Shipping Lines S.C. was founded in1964 G.C. and started operation in 1966 G.C. with three newly built ships (two general cargos and one tanker).
It was established as a share company with a capital of birr 50,000 subsequently to be raised to birr 3,750,000. Taurus Investment Inc. of Washington DC Agreed to subscribe to 51% of the capital requirements designating two directors of the company. The Ethiopian government under wrote the remaining 49% of the capital required designating two directors of the company. Eventually, the American sold his share to the government of Ethiopia and the company was fully owned by the government of Ethiopia since 1969/70 G.C.
The company is now reformed to a share company with a capital of birr 289 million and operates under the supervision of Public Enterprises Supervising Authority.