Ethiopian Shipping and Logistics Services Enterprise (ESLSE) generated 108.78 billion birr in revenue in the 2024/25 fiscal year—surpassing its annual target by 7%—as the state-owned operator expanded its maritime and inland logistics footprint amid volatile global shipping conditions.

In a press statement delivered Monday, CEO Dr. Beriso Amelo credited the revenue performance to higher volumes of sea and inland cargo movement, improved terminal efficiency, and the government’s policy focus on logistics modernization. The year also marked a shift in ESLSE’s strategy toward domestic vessel assembly and expanded inland water transport services.

The enterprise transported 3.75 million tons of revenue cargo and nearly 41,000 tons of expense cargo by sea, using a combination of its own vessels and leased carriers through slot and charter agreements. On land, more than 2.2 million tons of revenue cargo and 356,000 tons of expense cargo were moved through unimodal systems, while the multimodal corridor handled 108,435 TEU containers to inland dry ports and customs-cleared warehouses.

In total, dry ports and terminals under ESLSE managed 437,241 TEUs, reflecting continued growth in Ethiopia’s import-export trade volume.

Despite disruptions in international shipping lanes, particularly in the Red Sea due to regional security concerns, ESLSE maintained operations by redirecting cargo and coordinating temporary storage until foreign vessels could arrive. According to Dr. Beriso, these flexible strategies enabled the enterprise to maintain throughput and meet revenue targets.

Passenger transport also saw notable growth. More than 146,000 people used ESLSE’s inland waterway services in the fiscal year. A major milestone was the deployment of Tana Nesh II, a 38-meter passenger ferry with a capacity of up to 200 passengers. Transported overland from Djibouti Port and delivered to Lake Tana in June, the vessel is expected to serve a new corridor linking Bahir Dar with Ethiopia’s maritime supply chain via inland waterways.

ESLSE said it is now preparing to assemble additional vessels domestically, positioning the enterprise as a pioneer in local shipbuilding and signaling a shift away from reliance on foreign-made ferries. The initiative is part of a broader strategy to deepen inland water connectivity and create long-term resilience in Ethiopia’s logistics infrastructure.

The CEO also noted progress in service digitalization, real-time accounting systems, and the expansion of maritime training programs at the Babogaya Center. ESLSE has also scaled up cross-trade services, transporting cargo between ports on behalf of other nations—an increasingly important source of foreign currency earnings.

Dr. Beriso added that macroeconomic improvements, particularly in the exchange rate and regulatory clarity, played a key role in boosting revenue collection. Looking ahead, the enterprise plans to widen its role in regional shipping, invest in vessel assembly, and expand both maritime and inland logistics capacity to keep pace with Ethiopia’s trade ambitions.