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ESCO has proud traditions with roots dating back from the middle of the 20th century.
In 1997 Tschudi & Eitzen (T&E) was approached by Pareto, a project broker in Oslo, who represented a US-based investor, Stanton Capital Inc.
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Dating foreigners with Russian women become popular in the 90s of the 20th century.Stanton wanted a Norwegian partner with shipping experience for a bid to acquire the Estonian Shipping Corporation (ESCO) in Tallinn.ESCO was now up for sale in the governmentâ€™s privatization campaign, offering a stake of 70% as the first step.Tschudi Shipping Company AS owns the former national shipping company of Estonia, ESCO.
The ESCO fleet is operated commercially by Rederiet Otto Danielsen in Copenhagen with technical and crew management by Tschudi Ship Management AS in Tallinn and Tschudi Ship Management Ltd in Odessa.
ESCO had been a part of the Soviet-era shipping empire managed from Moscow and had a fleet of 49 vessels of various types and sizes and an organization of 240 persons in Tallinn.