• 2019 May 16 09:49

    AS Tallinna Sadam to pay 35.24 million euros in dividend

    On the general meeting held on Tuesday, shareholders of AS Tallinna Sadam approved the company’s last year’s annual report and dividends in the amount of 13.4 cents per share, i.e. a total amount of 35,242 million euros. Furthermore, the shareholders also approved formation of the five-member Nomination Committee, the task of which is to nominate members of the Supervisory Board of AS Tallinna Sadam, the company says in a press release.

    81.72% of the company’s 263 million votes determined by shares were represented at AS Tallinna Sadam’s general meeting of shareholders, the company announced on Tuesday to Nasdaq Tallinn Stock Exchange.

    The general meeting decided to unanimously approve the net profit for the financial year of 2018 in the amount of 24,423,303 euros and the retained earnings in the amount of 42,100,654 euros. As decided by the general meeting of the shareholders, dividends are to be paid to the shareholders in 0.134 euros per share, in the total amount of 35,242,000 euros.

    “Last year was a success for AS Tallinna Sadam. We increased both our turnover and profit which among other things were influenced by a record-breaking cruise season, increased passenger numbers, conclusion of the extensive Botnica contract in Canadian waters, increased liquid cargo volumes, and launch of the Smart Port Solution,” said Valdo Kalm, Chairman of the Management Board of AS Tallinna Sadam, speaking to the shareholders.

    In 2018, 10.6 million passengers passed through the Port of Tallinn as well as 20.6 tons of goods, while the company’s return on sales was 130.6 million euros and net profit 24.4 million euros.

    “In pinpointing new opportunities for the company, in the next coming years we will consider prevalent trends in the entire maritime and logistics domain such as the capacity to service larger ships, digitalization, and prompt employment of new technologies,” Kalm described the company’s future plans to the shareholders referring by way of example to fully automated terminals, unmanned ships, and green port. “In the few coming years, the Port of Tallinn will focus on expanding its Terminal D, work on which is currently already underway, development of the ferry business, and valorization and development of the port and harbor area of the City of Tallinn.”

    The list of shareholders entitled to receive dividends will be established as at May 28, 2019 at the end of the working day of the settlement system of Nasdaq Tallinn Stock Exchange and dividends will be disbursed to the shareholders in two installments on June 4, 2019. 35 euros out of the sum total of dividends are subject to a 14% lowered income tax on dividend, while the remaining dividends are subjected to a 20% income tax.

    On dividends paid to shareholders that are private individuals, a 7% income tax is withheld in adherence to the Republic of Estonia Income Tax Act.

    The general meeting of the shareholders of AS Tallinna Sadam also elected the following persons to the five-member Nomination Committee, the task of which is to nominate members of the company’s Supervisory Board: Erkki Raasuke, Chairman of the Nomination Committee established by the Estonian Government; Veiko Tali, Secretary General of the Republic of Estonia Ministry of Finance; Ando Leppiman, Secretary General of the Republic of Estonia Ministry of Economic Affairs and Communications; Sven Kunsing, Management Board Member of AS SEB Varahaldus; and Elena Kiseleva, Principal Banker of Transport Team of European Bank of Reconstruction and Development.

    The shareholders of AS Tallinna Sadam furthermore approved a new wording of the rules of procedure of the company’s Supervisory Board.

    During the initial public offering (IPO) of the shares of AS Tallinna Sadam on May 25 – June 6, 2018 a total of 86,704,968 ordinary shares of AS Tallinna Sadam were listed for sale. 13,723 Estonian retail investors and 102 professional investors participated in the public offer; the demand for the shares exceeded the supply thereof more than threefold. The total volume of the public offer was approximately 147.4 million euros. The final price of the share that made its debut on June 13, 2018 at Nasdaq Tallinn Stock Exchange was set at 1.70 euros.

    AS Tallinna Sadam owns one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2018 serviced 10.6 million passengers and 20.6 million tons of cargo. In addition to passenger and freight services, the company also operates in the shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the nation’s largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and for offshore projects abroad. AS Green Marine, a related company that provides waste management services, is also part of the Tallinna Sadam Group. The Group's sales revenue in 2018 totaled EUR 130.6 million, adjusted EBITDA EUR 74.4 million, and its net profit amounted to EUR 24.4 million.




2019 June 26

18:11 Jacobs wins contract to help build the largest shipyard in the Arabian Gulf
18:09 Senior officials from Kenya Coast Guard Services are undergoing training at national workshop in Mombasa
17:52 LUKOIL commissions two wells at V. Filanovsky field
17:30 Term of office of Sergey Baryshnikov, Rector of Makarov University, extended for 5 years
17:06 Saudi Aramco signs 12 agreements with South Korean partners worth billions of dollars
16:41 Damen Shiprepair Amsterdam completes major maintenance programme on OSV Deep Arctic
16:23 Nordic Engineering wins competition on development of technical design for 6-8 MW icebreaker
15:49 50 Let Pobedy icebreaker returned to Murmansk after its 50th voyage to North Pole
15:35 OOCL chooses Navis Stowage Planning Software StowMan for its container ship fleet
14:52 MacGregor works together with MSC to maximise performance and reduce emissions
14:50 IMO celebrates 30 years of outstanding legal training
14:26 North Sea Port conducts quay-inspection test using underwater robot from Asset.Insight.
14:03 Damen Shiprepair & Conversion signs contract on the conversion of a dredger ‘Samuel de Champlain’
13:52 EU NAVFOR Somalia takes part in Ministerial Conference on Maritime Security in Western Indian Ocean and Plenary Session of CGPCS
13:24 Sergey Larionov elected as General Director of Lena United River Shipping Company
12:51 Igor Tonkovidov elected as Chairman of Novoship BoD
12:27 Port of Rotterdam Authority to invest over 3.5 million euros to optimise the Wilhelminahaven
12:00 Nevsky Shipyard certified in “Military Register” Voluntary Certification System
11:58 Closing of MacGregor's TTS acquisition postponed to Q3 2019
11:35 Russia's Main Department of State Expertise approved project on development of bunkering base at commercial seaport of Murmansk
10:57 Yamal LNG shipped first LNG cargo to Japan
10:18 Brent Crude futures price is up 1.42% to $65.19, Light Sweet Crude – up 1.94% to $58.95
09:59 IAPH South East Asia and Oceania Region meets in Kuala Lumpur in August
09:44 MABUX: Bunker Market this morning June, 26
09:33 Bunker prices increase at the port of Saint-Petersburg, Russia (graph)
09:14 Baltic Dry Index is up to 1,280 points

2019 June 25

18:06 VARD orders seawater cooling for newbuild cable layer
17:34 ABP Humber Estuary Services (HES) purchased new £600,000 survey vessel
17:06 Q-Flex vessel sets delivery benchmark in Turkey
16:28 Awilco LNG posts vessel and contract update
16:22 Zhatai Shipyard to be provided with RUB 4.1 billion of budget investments in 2019–2021
15:59 Maersk introduces Maersk Spot, a new fully online product that simplifies the buying process for customers
15:15 NCSP Group announced decisions made at annual general shareholders' meeting
14:51 IMO: committed to implementation
14:20 ABP King’s Lynn investment attracts new construction industry customer
13:37 MAN B&W dual-fuel engines pass half-million hour milestone
12:59 ECSA celebrates the Day of the Seafarer
12:47 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
11:58 Fuel technologies in the spotlight at ABS Hellenic Technical Committee
11:39 Dickson obtains status of international port
10:58 MEYER WERFT hands over Spirit of Discovery to the British cruise line Saga Cruises
10:42 Concordia Damen ships 18 hulls from Shanghai to Rotterdam
10:24 Gender equality is the theme of Day of the Seafarer 2019
10:03 Brent Crude futures price is down 0.81% to $63.66, Light Sweet Crude – down 0.88% to $57.39
09:46 MABUX: Bunker market this morning, June 25
09:16 Baltic Dry Index is up to 1,258 points

2019 June 24

18:05 Training Montenegro to combat oil spills
17:50 Four cruise ships visit the Port of Riga at the same time
17:27 Finnish Government proposes supplementary appropriation of EUR 40 million for basic infrastructure management
17:05 Austal delivers third guardian class patrol boat to the Australian Department of Defence
16:47 Incat Crowther announces contract to design a 65m catamaran passenger ferry
16:46 Construction and operation of dual-fuel ships has low economic efficiency – USC President
16:45 Maersk Drilling completes sale of jack-up Mærsk Giant
16:24 USC set to build floating electricity-generating facilities running on LNG supplied by bunkering ships
16:03 Van Oord and Mammoet enter into cooperation with scale-up Verton
15:45 United Shipbuilding Corporation to launch the first LNG-powered ferry for Ust-Luga – Baltijsk line in late July
15:30 United Shipbuilding Corporation establishes USC-Propulsion and USC-Interior subdivisions
15:03 MOL signs deal on a long-term charter contract to utilize "MOL FSRU Challenger" for Hong Kong Offshore LNG Terminal Project
14:42 New USC Vice-President, Civil Shipbuilding, to get into office on 10 July 2019
14:21 USC expects its Astrakhan cluster to build 12 river-sea class ships per year