• 2019 August 20 10:43

    Port of Tallinn reports its financial results for 2019 Q2 and 6 months

    In the second quarter of 2019, the revenue, adjusted EBITDA and net profit of AS Tallinna Sadam increased, the company says in a press release. The revenue amounted to EUR 32.8 million, growing by 0.2% compared to the same period last year. The Group's adjusted EBITDA was EUR 18.8 million in the second quarter, growing by 4.1% year-on-year. Net profit amounted to EUR 7.2 million.

    According to Valdo Kalm, Chairman of the Management Board of the Port of Tallinn Group, the results of the second quarter were influenced by the growth of dry bulk cargo, mainly due to the launch of the dry bulk terminal by the new cargo operator PK Terminal and by recovery of the liquid bulk volumes to the last year’s level under conditions of continued strong competition. “In the second quarter, the number of passengers increased mainly due to the Tallinn-Helsinki route. At the end of June, Eckerö Line started operating on the Muuga-Vuosaari route with its vessel MS Finbo Cargo, which serves both trucks and vehicles and in addition, Tallink also started to serve passengers with vehicles on this route with its vessel Sea Wind. These events will have an impact on the Group's financial results mainly since the third quarter,” said Kalm. The biggest growth in revenue and profitability was generated by the ferries operating on Saaremaa and Hiiumaa routes and by the icebreaker Botnica due to the indexation of contractual fees and the increase of operational efficiency.

    Supported by the growth in passenger and cargo volumes, half-year revenue made a slight recovery to EUR 61.4 million, reducing the 3%-drop in the first quarter caused by lower liquid cargo volume and scheduled maintenance of the passenger ships. Adjusted EBITDA remained at the previous year's level due to lower operating expenses in the second quarter. The strong growth in net profit over in 6 months year-on-year was due to EUR 20.5 million lower dividend income tax expense in 2019.

    In the second quarter, the investments also increased compared to the same period last year due to the reconstruction of the passenger terminal D, dredging works at the Paldiski South Harbour and the co-financing of the construction of Reidi road at the Old City Harbour.

    The Management Board estimates that Tallinna Sadam will achieve the profit target set for 2019 and there will be no deviations from the dividend policy.




2020 August 14

16:40 H1’2020 throughput of Taganrog Sea Commercial Port is flat Y-o-Y
16:18 Robert Socha joins Conrad Shipyard’s senior management team
15:54 Rosneft’s 1H 2020 hydrocarbon production fell by 7% YoY
15:35 Aker carbon capture AS and Aker Offshore Wind Holding AS – contemplated private placement and listing on Merkur Market
15:11 DOF Rederi AS sold vessels with YB 1983/2020
14:49 Port of LA to work with California manufacturers and technology association under new agreement
14:22 Transshipment of Angara launchpad components underway at Sovetskaya Gavan port
13:46 NCSP joins national project to improve workforce productivity
13:24 First of six new US Navy tugboats features integrated Furuno Marine Electronics
13:01 Port of Cardiff signs new long-term lease with Stone Supplies Ltd.
12:38 Rosneft reports H1 net loss of RUB 113 billion
12:10 Okskaya Shipyard lays down fifth multipurpose dry cargo carrier of Project RSD59 for Astrol
11:47 IMSC issues statement on the Incident with Motor Tanker Wila
11:29 Port of LA July volumes are strongest of 2020
10:53 First part of permanent layoff negotiations at Turku shipyard are ready
10:29 Krasnoye Sormovo lays down 23rd dry cargo carrier of Project RSD59
10:04 BlueWater Reporting issues alliance market share report
09:30 Crude oil prices start rising
09:12 MABUX: Bunker market this morning, Aug 14
09:07 Baltic Dry Index as of August 13

2020 August 13

20:58 Rosmorrechflot promotes Stanislav Uryupin to Port of Novorossiysk Harbourmaster
18:31 Glavgosexpertiza gives nod to Sovetskaya Gavan LPG terminal project
18:06 Global Industry Alliance issues Just-In-Time Arrival Guide
17:36 HMM Rotterdam en route to Rotterdam
17:18 Ust-Luga Multipurpose Reloading Complex half-year cargo volume down 9% year-on-year
17:06 The operational situation in the port of Beirut is back to normal
16:48 TCSP Group half-year throughput grows 11.4%
16:31 Kalmar service expertise to enhance safety, performance and productivity on WWO’s American routes from Manzanillo International Terminal in Panama
16:12 CMA CGM announces PSS from North Europe (except France) to Australia & New Zealand
15:26 Minister for Regional Growth and Local Government opens multi million pound bulks terminal at Teesport
15:21 St. Petersburg set to create infrastructure for all-electric passenger vessels
14:39 First supply of bunker fuel by Gazpromneft Marine Bunker to the brand new cruise ship Mustai Karim
13:52 MABUX releases weekly review of global bunker market
13:21 VIKING delivers first of ambulance boat trio for Hellenic Coastguard
12:32 Grain exports via Krasnodar Krai based seaports in Jan-Jul jump 32%
12:14 Port of Oakland import cargo volume grew 6.4 percent in July
11:33 MacGregor receives EUR 18 million RoRo orders from Japan
10:52 Australia authorities issue fumigation requirements for the 2020/2021 high risk season
10:17 Sea Port of St. Petersburg half-year cargo volume rose 3%
10:14 MABUX: Bunker market this morning, Aug 13
09:52 Crude futures prices retreat
09:32 Baltic Dry Index as of Aug 12
08:26 ME-GI engine sails through sea trials

2020 August 12

18:57 Risavika LNG index for September up by 8.9 % week on week
18:27 Andreas Rieckhof new Chairman of Hamburg Messe und Congress GmbH Supervisory Board
18:08 At the three Hamburg container terminals throughput volume down 12.0 % in H1 2020
18:07 Sri Lanka Ports Authority assures safe handling of dangerous cargo under UN regulations
17:47 Rosmorport’s Azov-Black Sea branch adds TSHD Sommers to its fleet
17:43 Boluda Towage Europe takes on two new tugs from Damen Shipyards Group
16:49 Investors set to inject in excess of RUB 19 bn in federal port infrastructure facilities development
15:44 MoD eyes placing more orders for the Steregushchiy class corvettes with Amur Shipyard
15:17 Joint R&D Starts for Use of Ammonia in Marine Transportation to Reduce GHG Emissions
14:47 CMA CGM announces PSS from Asia to North Europe
14:21 MST wins contract for building 19m high-speed patrol craft duo for the Royal Navy
14:03 MOL issues an update on the Capesize bulker "Wakashio" aground off Mauritius
13:20 Port of Kiel constructs the new port apron
12:01 THE Alliance announces COVID-19 response measures for September 2020
11:57 Northern Sea Shipping acquires the MV Siyaniye Severa
10:36 LNG vessel completes 10,000th Neopanamax transit at the Panama Canal
10:02 Crude futures prices continue upward trend