Port of Tallinn subsidiary signs agreement for chartering m/v Botnica during summer periods
The subsidiary company of Port of Tallinn, OÜ TS Shipping, signed an agreement with Baffinland Iron Mines LP for chartering m/v Botnica for the 2018 summer period and, subject to certain conditions, also for the summer periods during the years 2019-2022. Baffinland Iron Mines LP is a Canadian mining company, engaged in the mining of iron ore on Baffin Island in Northern Canada. According to the agreement m/v Botnica will provide escort ice management services, oil spill and emergency response services.
According to the Port of Tallinn, for chartering m/v Botnica during winter periods, OÜ TS Shipping has an agreement with the Estonian Maritime Administration, which is valid until 2022, under which m/v Botnica provides ice-breaking services in Estonian coastal waters.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel m/v Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of a joint venture AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2017 totaled EUR 121.3 million, adjusted EBITDA EUR 66.5 million and net profit EUR 26.4 million.