Finland’s ESL Shipping has clinched new investment to drive forward its zero-emission bulker ambitions.

The owner of vessels ranging from small dry carriers to supramaxes said on Wednesday that OP Finland Infrastructure will pump €30m ($32m) into ESL against an issue of new ESL shares with an agreed pre-money equity valuation of €165m.

This corresponds to a 15.38% stake and implies an enterprise value of €300m in ESL.