1940 - 1991
From summer 1940 till autumn 1991 ESCO was a part of the Soviet Union Merchant Fleet.
1991
September 11th
Ownership of ESCO was transferred to the Republic of Estonia.
December 14th
ESCO reorganized into a state-owned company. December 14th is celebrated as the Anniversary of Estonian Shipping Company.
1993
August 13th
Republic of Estonia approves reorganization program of ESCO to prepare for the privatization of ESCO (more than 50 old vessels were sold from August 1993 to July 1997).
1997
June 11th
The Council of Estonian Privatisation Agency selects AS ESCO Holding as the winner in the tender for the privatisation of 70% of the shares of ESCO. ESCO Holding Ltd. was formed by Tschudi & Eitzen Ltd, Baltic Cresco Investment Group, Stanton Capital Corporation, Epeks Ltd and ESCO's management.
July 7th
Privatisation agreement is signed for where AS ESCO Holding, pays EEK 700 million (USD 50 million) for 70% of the equity in ESCO. In addition, AS ESCO Holding commits to make investments of EEK 800 million (USD 56 million) in ESCO.
1998
December
Agreement with Estoninan Privatization Agency to sell 30% of government-owned shares with-out expanding the circle of owners. Sale was planned for March 1999.
1999
March
ESCO Holding, the owner of ESCO, bought the still state-owned 30% of the ESCO shares. ESCO became 100% privately owned.
2000
December
On the basis of the charter parties made between ESCO and Hansatee, the operation of the passenger ferries Regina Baltica and Baltic Kristina sailing in the Tallinn-Stockholm line was transferred from Estline to Hansatee.
The main office of ESCO was moved to the renovated building at the address Sadama 4 (near the Tallinn Port) , as a result of which the entire company was concentrated under one roof.
2001
June
An agreement was signed on June 6th, 2001 concerning the majority ownership in ESCO Holding and ESCO (Estonian Shipping Company Ltd.) according to which the Tschudi & Eitzen Group obtained majority ownership of ESCO Holding and ESCO.
2002
October
On October 8, 2002, Tschudi & Eitzen Group completed the Share Purchase Agreement between Esco Holding Ltd. and Tschudi & Eitzen Holding AS, thereby gaining 100 % ownership of Estonian Shipping Company.
2003
February
Icelandic shipping company Samskip purchased 50% of the shares in T&E ESCO Container Lines AS, Tallinn, Estonia.
May
In view of a new strategy for ESCO - shifting focus away from operating Ro-Ro lines - Scandlines Deutschland GmbH and the Estonian Shipping Company Ltd (ESCO) entered into an agreement whereby Scandlines Deutschland GmbH acquired the daughter company of ESCO, the T&E ESCO RORO Line AS.
July
As the final step in the companie's strategy to withdraw from the operation of ro-ro liner services, Estonian Shipping Company (ESCO) sold its daughter company "ESCO Eurolines OÜ" to the English transport company Mann & Son Holdings, Ltd..
2004
June - November
The Owners of Tschudi & Eitzen Holding AS, Felix H. Tschudi and Axel C. Eitzen decided to split this common platform into two separate commercial platforms each pursuing their particular interests and competence - TSCHUDI SHIPPING COMPANY AS (TSC) and CAMILLO EITZEN & CO (CEC).
The 12 ships owned plus the commercial activities, organization and real estate of Estonian Shipping Company (ESCO) continued in TSC after the split.
2005
August
ESCO acquires full ownership of Reval Logistik AS.
History of Estonian seafaring
The history of Estonian seafaring can be charted back many centuries. From as early as the middle of the first millenium BC, the forefathers of the ancient Ests were navigating small ships throughout the Baltic Sea.
Her advantageous geographical position enabled Estonia to become an intermediary in seaborne trade between the West and the East. Located at an oxbow of the Pirita River, the town of Iru became home to the ancient Ests. Combined with the convenience of a wind-sheltering bay, this settlement provided safe anchorage for sea ships and thus initiated port developments. From this point at the turn of the X century and early into the XI century, the port town of Tallinn and her bay emerged as a large merchant harbor on the northern coasts of Estonia. Both the town and the port gained much momentum in the times of Peter I (the Great), as he had a keen understanding of the value of the unfreezing, deeply wind sheltered Baltic port. During his time the Merchant Harbor was being built and the fleets renewed; trade developed and shipments were being carried out.
In the XIX century the rate of construction of sail vessels was rapidly increasing: by 1842 the first steamer was already launched. In 1879, the first shipping company «Linda» was established.
And now Estonian Shipping Company Ltd. is the oldest ship-owning company in Estonia.
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