• 2021 April 5 10:56

    Port of Tallinn published audited Annual Report 2020 and announced dividend proposal

    The supervisory board of Port of Tallinn approved the audited annual report for 2020 presented by the management board. There are no differences in the audited financial results, compared to the 12-month unaudited financial results disclosed on 26 February 2021.

    In 2020, the annual revenue of Port of Tallinn  group was EUR 107.4 million (–17.8%) and adjusted EBITDA amounted to EUR 58.4 million (–21.4%). Despite the pandemic, the profit for 2020 was EUR 28.5 million (–35.8%). Adjusted EBITDA margin decreased by 2.5 percentage points, but the volume of investments increased to EUR 37.1 million (+26%).

    According to Valdo Kalm, Chairman of the Management Board of Port of Tallinn, the negative impact of the pandemic on the company’s financial results was particularly noticeable in the Passenger harbours segment, but the overall impact of the virus on the Group’s finances was smaller than feared and the year ended with a strong profit given the circumstances. „The year 2020 proved that the business strategy with diversified risks and the contribution to the four business directions is justified. In a situation where the business related to passengers decreased by almost half, we are able to meet the expectations of investors and continue with the promised dividend policy, i.e. pay at least 70% of the previous year’s profit for dividends,” explained Kalm.

    Kalm says that the large drop in the number of passengers has been compensated by the highest cargo volume of the last five years, the sales revenue of passenger ferries and icebreaker Botnica, which have all remained at levels comparable to 2019. “The resulting stable cash flow and confidence in the recovery of the passenger business have also enabled us to continue investing in passenger services and infrastructure despite the crisis, especially in the Old City Harbour, where we have introduced innovative environmentally friendly solutions such as automatic mooring and on-shore power supply. This year, despite the slump in the passenger segment, several passenger service and real estate development projects in the Old City Harbour will be completed or continued, including the cruise terminal, the front square of the Terminal D and the pedestrian bridge of the Admiralty Canal,” added Kalm.

    Based on the aforesaid and the dividend policy approved by the general meeting of shareholders to pay a dividend at least 70% of the profits from 2021 and forward, the management board, with the approval of the supervisory board, will propose to the general meeting of shareholders to pay a dividend of EUR 0.077 per share in 2021, totaling EUR 20.251 million.

    Material dates related to the payment of dividends will be disclosed in the notice of the general meeting by the end of April the latest.

    The consolidated annual report of Port of Tallinn  Group for 2020 is attached to this announcement and is also available on the company’s website.

2021 May 6

16:17 Puget LNG and GAC Bunker Fuels join forces to supply LNG marine fuel by barge from the Port of Tacoma
15:53 Bunker Weekly Outlook, Week 18, 2021
15:41 Supply chain resilience solution: first supply-R pilot project completed with Shell
14:41 Damen launches Crane Barge in Yichang
14:32 Uni-Tankers invests heavily in intelligent engine management
14:29 Port of Corpus Christi Authority and Stabilis Solutions partner to construct LNG fueling Infrastructure for marine vessels
13:19 Continued growth, high profit and additional share buy backs from A.P. Moller - Maersk in Q1 2021
12:09 Mammoet on the company’s focus on projects for the renewables sector
11:42 CDC released guidance for cruise ships to undertake simulated voyages with volunteer passengers
10:57 Castor Maritime announces the en bloc acquisition of a tanke fleet consisting of 5 vessels

2021 May 5

15:33 Gibbs & Cox awarded $20M contract from Naval Surface Warfare Center, Philadelphia Division
14:18 Velesto Energy reports an incident with its rig VELESTO NAGA 7 at off the coast of Sarawak
13:41 Eastern Pacific Shipping and Rio Tinto enter charter for up to six dual-fuel LNG dry bulk carriers
12:48 New LNG bunkering barge from Titan LNG to supply Zeebrugge and English Channel regions
11:07 DNV awards AiP for new LNG fuel tank insulation with leak detection system

2021 May 4

17:24 SteelCoast’s growing momentum delivers gains
16:47 MPA announces full resumption of operations at the Port of Montreal and an end to the uncertainty
15:41 NAB strengthens long-term sustainability for Port of Newcastle landmark loan
15:21 MarineMax acquires KCS International, Inc. (Cruisers Yachts)
14:36 Tidal Channel into Bahia Grande closed until fall for $5M ecological restoration
13:47 USCG suspends response to overturned boat near Point Loma
12:38 BunkerMetric strengthens bunkering decision tool with wealth of Inchcape port call data
11:56 Government and business heads determine future of hydrogen at Ocean Now
11:04 Fednav welcomes the MV Arvik I - its newest icebreaking bulk carrier

2021 May 3

17:29 Total realizes France's first ship-to-containership LNG bunkering operation, after inaugural loading at Dunkirk LNG terminal
16:08 A-Navigation should be affordable and feasible for shipping companies – MARINET
15:36 IMO representatives consider Russian concept on a-Navigation convoy promising
15:18 Marlink Group closes the transaction on ITC Global
14:27 The U.S. Coast Guard suspends search for person in the water near Matagorda, Texas
13:48 A-Navigation will open up new opportunities for women involved in shipping activities
13:18 Carnival Breeze, Carnival Vista arrive in Galveston in advance of cruise rally at Port tomorrow
12:57 NTSB says maintenance error caused $2.2M marine accident with Canadian-flagged ship
12:43 Costa Cruises restarts from Savona with the flagship Costa Smeralda
12:07 Russia welcomes to benefit from its competences in Autonomous navigation safety
11:11 USCG searches for person in the water near Matagorda, Texas

2021 May 2

17:03 TNS Logistics relocates to Port of Brisbane
15:21 PSA Marine: Fueling connectivity with ONEHANDSHAKE™
14:18 Port Houston posts largest monthly container volume
13:44 Eidesvik announces sale of supply vessel Viking Athene
12:33 USCGC Hamilton conducts operations with Turkish navy
11:02 Port Canaveral first port in U.S. to support COVID-19 vaccinations for seafarers
10:53 Creek restoration partnership kicks off to improve waterway health
10:21 Port of San Diego to double shore power at cruise terminals
09:58 St. Tammany Corporation and Port NOLA sign MOU to attract manufacturing and distribution centers to the region

2021 May 1

16:18 CARGOES TOS+ (ZODIAC) completes “go-live” within 8 weeks at DP World Luanda terminal
15:12 GeTS Asia Pte Ltd receives SBR's Tech Award for Logistics
14:31 Höegh Autoliners set to launch the most environmentally friendly car carrier ever built
13:28 Puerto Rico Ports Authority and JAXPORT affirm longstanding partnership
13:14 Bergen Tankers put into service its LNG bunker vessel
12:29 Acergy Viking gets hybrid propulsion
11:17 Two USCG cutters arrive in Athens, Greece en route to their homeport in Bahrain

2021 April 30

19:23 Combi Lift returns to Damen for its new 111-metre Damen Stan Pontoon
18:05 Krasnoye Sormovo shipyard delivers dry cargo carrier Vladimir Latyshev
17:38 Some 16 bunkering companies to operate in Saint-Petersburg during summer navigation season
17:16 Global Ports Holding awarded Taranto cruise port
16:34 The CMA CGM Group announces the order of 22 new vessels
15:47 Multipurpose Reloading Complex in Ust-Luga increased handling by 22% in QI’2021
15:22 The Arbitration Tribunal rules the dispute between DP World PLC and the Kingdom of Belgium
14:43 Sea Port of Saint-Petersburg handled over 1.8 million tonnes of cargo in QI’2021
14:21 Services between Hamburg and Xuzhou successfully established