Two Ultramax dry bulk carriers, each with a capacity of 62,000 tons, were purchased this fiscal year and will enter service soon. The remaining four ships, expected to accommodate 3,000 to 4,000 containers, will be added in the coming years, though no specific timeline has been provided.
Ethiopia, a landlocked country, relies on the port of Djibouti for most of its imports and exports. The expansion of its shipping fleet aims to strengthen trade and reduce dependence on foreign carriers.
The country currently operates 10 cargo vessels, including the 63,000-ton Abay 2 and several smaller ships ranging from 26,000 to 27,000 tons.
Market data indicates that Ultramax bulk carriers typically cost between $25 million and $35 million, while container ships of the specified size range from $40 million to $60 million. If the four additional ships are similar in type, the total cost is estimated between $150 million and $250 million. However, ESLSE has not confirmed whether the new vessels will be newly built or secondhand.
