News

2006 May 22 09:43

Turnover of Finstaship (Finland) increased by 9 % to 58 million euro in 2005

Turnover of Finstaship (the state company, Finland) increased by 8.8% to 58 million euro in 2005. Esko Mustamaki, president of Finstaship told to the Portnews IAA. According to him, the main part of income of the company in 2005 – 46 % (26.2 million euro) were gained due to the operation of icebreakers (ice breakers belong to the state). The second significant component in the structure of income – 32% or 18.8 million euro fell on offshore operations. Passenger transportations brought 10 % (5.7 million euro) to the company, sea ways services- 8 %, other services rendered to the port make 4% of total income.
According to estimates made by the president of the company, currently "the main rivals for Finstaship in the market of icebreaking service in Baltic sea are Russia which possess12 ice breakers in the North-West and Sweden possessing 7 ice breakers". Thus according to Mr. Mustamaki, Finland owing 9 icebreakers is one of the leaders it this market.
The company plans to hold positions in the given segment of the market due to updating of icebreaking fleet (today middle age of operating icebreakers is 20 years) and an increase in quantity of icebreakers of versatile use (oil-and-gas projects servicing, removal of oil slicks, primary processing of oily waters). Currently the Company owns 6 traditional and 3 versatile icebreakers.
Finstaship was established in 2004, by separating of a branch of icebreaking subdivision from the Administration of the seaport of Helsinki. The icebreaking subdivision of the company serves sea navigation in the 23 winter ports of Finland, and also sea oil-and-gas projects. Besides the company serves 13 ferryboats.