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International Internet Magazine. Baltic States news & analytics Thursday, 24.01.2019, 02:43

Graanul Invest buys freight ship for EUR 10 mln

BC, Tallinn, 23.01.2018.Print version
A subsidiary of the Estonian pellet producer Graanul Invest has bought its first bulk carrier to serve customers in the U.K. and the Netherlands, informs LETA/BNS.

According to Graanul Invest, the 186-meter vessel bought for more than 10 million euros has been named MV Imavere.


The ship's name derives from the name of the location of the company's first pellet factory. The vessel is capable of transporting approximately 30,000 tons of pellets at a time and it has been entered into the Cyprus Registry of Ships, the company said.


MV Imavere will carry goods of Graanul Invest and serve its customers in the U.K. and the Netherlands.


Graanul Invest CEO Raul Kirjanen refused to disclose the exact price of the vessel to BNS. "But it's over 10 million in any event," he said. "We saw that there was a favorable offer around, and we need to transport our goods. The vessel will not be left idle," Kirjanen said.


The seller is the Danish shipowning company Dampskibsselskabet Norden.


The vessel will be operated and manned by a German company, Grona Shipmanagement GmbH & Co. KG.


Graanul Invest said that the use of larger ships enables it to reduce the environmental footprint of pellet production and pellet trade as well as the link between the price of its output and global oil prices by cutting the amount of fuel spent for the manufacture and delivery of a ton of pellets.

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