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  • FOB Directive in Ethiopia

    The FOB directive was issued by the National Bank of Ethiopia in May 2000. The Directive states that, sea transport for every import should be done by the country's flag carrier, Ethiopian Shipping Lines Share Company, as long as the carrier has a service from the Port of Loading mentioned on the Proforma invoice or the sales contract which will be used to open L/C. In other words, the deal should be done according to Incoterms FOB. It's the buyer - not the seller - that pays the freight. The freight will be paid in local currency at ESL's head quarter in Addis Ababa. But this directive applies to those imports for which the foreign currency is paid by Ethiopian banks through letter of credit or cash against document. For those imports where the foreign currency is not paid by Ethiopian banks, the importer is free to use any Shipping Line.

    If the Port of Loading mentioned on the proforma invoice is not called by ESL, importers can get a waiver from ESL's marketing department so that the banks could open the LC on CFR/CNF terms. But all imports should use Ethiopian Insurance Companies to cover marine insurance.

    The FOB directive is believed to help save foreign currency that will be used to pay the freight. Some, however, say that it's used to protect ESL from foreign competition. Even though Ethiopia Shipping Lines has not more than ten ships, it charters ships sometimes on  time charter basis or usually on slot charter basis to transport the cargoes to Djibouti. The majority of the containers are carried by companies such as Maersk, PIL, APL, etc but under ESL's bill of lading. ESL has agreement with these companies on slot charter basis.

    Important Addresses:

    ETHIOPIAN SHIPPING LINES S.C
    Location: Near the Train Station or La Gare area, Addis Ababa, Ethiopia
    Phone: +251115518280
    Fax: +251115519225
    Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
    Website: www.ethiopianshipinglines.com.et

    NATIONAL BANK OF ETHIOPIA
    Location: Near the National Theatre, Addis Ababa, Ethiopia 
    Phone: +251115517430/+251116630040
    Fax: +251115514588
    Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
    Website: www.nbe.gov.et

    Exchange Rates

    Selling
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    GBP 58.9149  57.7597 
    EUR 52.8502  51.8139 
    CHF 46.0970  45.1931 
    CAD 32.4636  31.8271 
    AED 10.9346  10.7300 
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