Ethiopia plans to purchase six new cargo ships to boost its shipping capacity, aiming for greater control over its maritime trade. The Ethiopian Shipping and Logistics Services Enterprise announced the expansion, which could cost between $150 million and $250 million.
Two Ultramax dry bulk carriers, each with a 62,000-ton capacity, have already been acquired this fiscal year and will soon begin operations. The remaining four vessels, expected to carry 3,000 to 4,000 containers, will be added in the coming years, though no specific timeline has been given.
Currently, Ethiopia operates 10 cargo ships, including the 63,000-ton Abay 2. As a landlocked country heavily reliant on Djibouti’s port for imports and exports, Ethiopia is working to strengthen its logistics sector to reduce dependence on foreign shipping companies