• 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.

2020 June 2

18:24 Consortium of Boskalis, Bouygues and Saipem selected for Fecamp Offshore Wind Farm foundations
18:07 Alfaport-Voka, Antwerp Port Authority and Maatschappij Linkerscheldeoever agree to extend payment period for concessions
17:39 About forty ships, boats and vessels of RF Navy's Black Sea Fleet went to sea for training
17:34 Stena Line is now ten years ahead of the international shipping targets for reducing emissions
17:17 Nuclear-powered container carrier Sevmorput returned to Murmansk, its port of registration
16:51 The world's second largest container ship begins operating in the Port of Barcelona
16:15 Rosmorport announced successful bidder for adjustment of Pionersky terminal project
15:36 Associations call for accelerating digitalisation of maritime trade and logistics
14:51 POT celebrates its 25th anniversary on 16 June 2020
14:28 Nakhodka Ship Repair Yard lays down a series of eight crab catching ships
14:02 Ole Martin Grimsrud to leave his position as CFO of Aker Solutions
13:53 Effects of coronavirus epidemic prevention regulations on Finnlines Passenger traffic
13:35 WMU joins On Shore Power Supply in the Nordic Region project
13:02 DCSA establishes IoT standards for container connectivity
12:48 Bunker market sees mixed price movements at the Far East ports of Russia (graph)
12:26 Qatar Petroleum signs the largest LNG shipbuilding agreements in history to secure more than 100 ships valued in excess of QR 70 billion to cater for its LNG growth plans
12:00 Diana Shipping announces direct continuation of time charter contract for m/v Phaidra with Uniper
11:47 Research vessel of RF Navy's Baltic Fleet completed round-the-world route
11:22 Financial and operating results of FESCO Transportation Group for 2019
11:03 Ocean Network Express to extend the suspension of China-Australia service
10:29 “Zigh” Ship Repair and Construction Yard completes high-quality overhaul of “Nakhchivan” ferry vessel
09:58 Oil prices rise within $1
09:40 RS specifies requirements to roadster and harbor craft
09:23 MABUX: Bunker market this morning, June 02
09:12 Baltic Dry Index on June 1

2020 June 1

18:37 KIZAD breaks ground on largest rest, refuelling facility in region
18:21 Christophe de Margerie completes eastbound transit of NSR two months earlier than usual
18:13 Tallink Grupp to reroute its vessel Isabelle to operate on the Paldiski-Kapellskär route from 7 June 2020
18:07 ZIM starts eCommerce Xpress
17:52 Tallink to provide weekly sailings to Mariehamn in June and July 2020
17:29 Tallink adds more departures and additional vessel to Tallinn-Helsinki route
17:05 CMA CGM has announced FAK rates from North Europe to Mexico East Coast, USEC and USGULF & USWC
16:48 Throughput of port Azov in 5M’2020 fell by 9% YoY
16:30 Speakers announced for webinar “River fleet of the USA and Europe. What is useful for us or how do they make profit?”
16:05 MV Barracuda makes the first switch from dry cargo to jet fuel
15:26 Oil shipments via CPC Marine Terminal in 5M’20 climbed by 8.3% YoY
15:01 CMA CGM announces FAK rates from the Mediterranean to USEC, USGULF, Mexico East Coast and Canada East Coast
14:57 CANDEN Marine Fuel Services joins Glander International Bunkering Group
14:55 Average wholesale prices for М-100 HFO rose to RUB 6,641 in RF spot market
14:33 Northern Sea Route cargo traffic in 5M’2020 rose by 2.95%
14:10 Bollinger Quick Repair takes delivery of new dry-dock – “MR. Eddie”
13:52 Shuttle tanker Mikhail Ulyanov loads 200th crude oil cargo for Prirazlomnoye project
13:10 Neptune Energy welcomes DEME as a partner in the PosHYdon offshore green hydrogen pilot
12:46 Russian Railways' network loading fell by 4.5% in 5M’ 2020
12:10 Tanger Med partners with the initiative of the largest world ports to guarantee the continuity of international supply chains
11:57 Vladimir Putin approved a list of instructions following a meeting on transport sector development
11:31 CMA CGM ends PSS for exports from East Russia
11:05 Van Oord develops Green loan framework
10:30 CMA CGM announces PSS for Reefer Exports from Europe to West Africa (Nigeria excepted)
10:03 Oil prices decrease by about $1
09:46 Royal IHC to deliver design package and key components for new TSHD of Weeks Marine
09:42 Shipbuilding and Ship Repair Yard named after Lenin launched crane ship built for RF Navy
09:20 Baltic Dry Index on May 29
08:39 MABUX: Bunker market this morning, June 1

2020 May 31

16:57 RINA: shareholders’ meeting approves the financial statement for 31 December 2019 and appoints a new Board of Directors
15:31 Board appoints non-executive director at V.Group
14:48 MM&P seeks help from Congress in battle to repatriate offshore crews
13:24 Svitzer A/S names new CEO
12:31 Subsea 7 announces cost reduction measures
10:52 Drydocks World begins second project for the Hollandse Kust Zuid Windfarm