ESL Shipping of Finland is targeting fleet expansion to capture more Baltic Sea volumes.

The owner, which has two supramaxes among other bulkers, said it wants to charter in smaller vessels to launch new operations in the region.

It will aim to carry renewable bioenergy cargoes, as well as recycled fuel or steel, wood-based products and grain.

"The new operating model will allow the company to expand into new vessel classes with no major capital investments," it added.