The subsidiary company of AS Tallinna Sadam, OÜ TS Shipping, signed an agreement with BP Exploration Operating Company Ltd (hereinafter: BP) for chartering multifunctional icebreaker Botnica until September 3, 2023. The charter started on August 7, but additional testing of the ship and installed equipment was carried out until August 12. BP is a multinational energy company based in UK. According to the scope of service, Botnica will be chartered as a service operation vessel to support work scopes at BP’s Mungo normally unattended installation, located in the North Sea UK Sector.
In June, Botnica provided auxiliary vessel services to Equinor in UK. From September to November, Botnica is chartered to Baffinland for assisting Panamax-type cargo vessels in Arctic waters of northern Canada exporting iron ore from the Milne Inlet port to the ocean. Considering all 2023 summer work contracts, the revenue base is comparable to previous years, but the cost base is higher due to additional requirements for equipment regarding new summer charter contracts.
According to a 10-year agreement with the Estonian Transport Administration, Botnica provides icebreaking services in Estonian coastal waters from December 20 to April 20.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which serves annually 10 million passengers and 20 million tons of cargo in average. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services.
Additional information:
Marju Zirel
Head of Investor Relations
Tel. +372 5342 6591
