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The Ethiopian Shipping Lines (ESL) is taking its
time in the face of complaints over the delayed
payment of slots rented on other shipping companies
for inbound and outbound cargo.
The company’s dealings with 10 international
shipping companies have resulted in growing debt.
One French company, CMA CGM, has already cut its
relations with ESL because of similar problems.
Currently the ESL uses its nine vessels and the
vessels of nine other companies to ferry its cargo.
The company has also started dealing with Chinese
shipbuilders for the delivery of nine new vessels
which will boost its carrying capacity from
150,000tn to 400,000tn, according to Ambachew Abreha,
managing director, who spoke to journalists at a
press conference on Monday, February 15, 2010.
Ambachew is confident with the performance of the
ESL and sounded unperturbed over its rising debts to
other shipping companies.
“There is a delay in payment,” he admitted. “If they
are not happy with that, they can stop working with
us. It is their right; we cannot force them to
continue working with us.”
He declined to disclose how much money was owed for
the services it acquired from other companies or why
his company, which reports success, has been unable
to pay them back in time. It had planned to carry
1.13 million tonnes of cargo during the first half
of the 2009/10 fiscal year, but achieved 1.29
million tonnes the ESL reported. That was 39pc more
than the same period a year before when 925,632tn
was carried.
Among the new vessels, seven will be for dry cargo
and two for oil, with individual capacities of
28,000tn and 41,000tn, respectively, according to
Ambachew. Profits-wise the company performed
slightly lower than its plan but 31pc better than
the same time last year. It reported a profit of
203,945 Br from a total revenue of 1.65 million Br.
The ESL plans to construct a container terminal at
Dukem Town in the Oromia Special Zone. It is also
preparing to employ the use of a ship management
expert system (SES) and Sealiner software, which are
enterprise resource planning solutions, to improve
its services.
“This is expected to support the multimodal
transport system that is being implemented by the
ESL,” Ambachew said.
Operating under the care of the Federal Government,
the ESL obliges every importer to use vessels
operated under the ESL.
The ESL is providing training on seamanship for
those people who look forward to employment in
foreign shipping companies. |
French shipping partner, CMA CGM, cuts ties