Published: 2020-01-02 15:00:00 CET
Tallinna Sadam
Company Announcement

Icebreaker Botnica charter in summer 2020

Baffinland Iron Mines Corporation (hereinafter: “Baffinland”) declared of using the contractual option to charter the multifunctional icebreaker Botnica in 2020 during the period from the end of June to the end of October. The exact number of chartering days depends on weather and other conditions.

In 2018, the subsidiary company of AS Tallinna Sadam, OÜ TS Shipping, signed an agreement with Baffinland for chartering m/v Botnica for the 2018 summer period and annual call options for the summer periods in 2019-2022. Baffinland is a Canadian mining company, engaged in the mining of iron ore on Baffin Island in Northern Canada. According to the agreement, m/v Botnica provides escort and ice management services, oil spill and emergency response services.

In the last two years, m/v Botnica assisted Panamax-type cargo vessels in Arctic waters of Northern Canada for exporting iron ore from the Milne Inlet port to the ocean. While in 2018 the work was performed in two parts and meanwhile m/v Botnica visited Tallinn in late August during the ice-free period in the Arctic, in 2019 the vessel remained in the Baffin Archipelago for a three-week ice-free period and assisted Canadian scientists in research of seabed and Arctic waters as an additional work. The 2019 work period with mobilization lasted from the end of June to the beginning of November. According to an agreement with the Estonian Maritime Administration, m/v Botnica provides icebreaking services in Estonian coastal waters from 20th December to 20th April.

Tallinna Sadam is 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, 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 m/v Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder in an associate AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2018 totaled EUR 130.6 million, adjusted EBITDA EUR 74.4 million and net profit EUR 24.4 million.

Additional information:

Marju Zirel
Head of Investor Relations
AS Tallinna Sadam