Collective Redundancies for Tallink Latvija AS Employees

By | 2020 Newsletter week 17 | No Comments

 Tallink Grupp’s subsidiary Tallink Latvija AS has notified the Latvian Employment Agency and the group’s Latvian crew members and shore personnel that it is commencing a collective redundancies process involving around 550 Latvian employees. The process involves both crew members of the group’s Latvian flagged vessels ISABELLE and ROMANTIKA as well as the company’s Latvian shore personnel.

Tallink’s Riga-Stockholm route vessels Isabelle and Romantika have been suspended at the Port of Riga since mid-March due to the ongoing state of emergency and the established travel restrictions and there is currently no information on when the operation of the route is likely to be restored.  As per maritime regulations, both vessels currently have the minimum required level of technical crew onboard, but all other onboard employees have been at home for the last month with reduced salaries, paid by the company.

Tallink Grupp

By | 2020 Newsletter week 12 | No Comments

Tallink Grupp stopped selling cruise tickets (return tickets) on the Tallinn-Stockholm route from 13 March until 1 May 2020. Since 13 March 2020 customers can only buy one-way tickets on this route. Cargo transportation will also continue on this route.

Tallink Grupp suspended operations of its Tallinn-Helsinki route vessel SILJA EUROPA from 17 March 2020 due to the measures adopted by the Estonian government regarding border control.

Tallink Grupp has temporarily suspended the operation of its Helsinki-Stockholm route vessels SILJA SERENADE and SILJA SYMPHONY.

Tallink Grupp made changes to the Tallinn-Helsinki route vessels schedule: STAR departures are cancelled until further notice. MEGA STAR and SEA WIND operate as on schedule.

On 17 March, Tallink Grupp in partnership with the Estonian Foreign Office has sent ROMANTIKA to Sassnitz, Germany to bring home Estonians and Latvians currently stuck in Europe due to closed borders. Germans were able to embark in Riga to get back home.

Tallink’s Vessel ROMANTIKA to be Renewed at Nauta Shipyard

By | 2020 Newsletter week 3 | No Comments

Tallink Grupp’s vessel ROMANTIKA has arrived in the Nauta Shipyard in Gdynia, Poland on 13 January for scheduled maintenance and planned renewal works. The vessel will stay in Nauta shipyard for nearly two weeks, returning to the Riga-Stockholm route on Saturday, 25 January.

During the scheduled docking, several key passenger areas will be renewed considerably and receive a complete overhaul according to the company’s refreshed brand.

The popular ship’s buffet restaurant will be refurbished according to the Grande Buffet concept. Similarily, the ship’s cafe will be renewed in accordance with the Coffee & Co. concept and the ship’s pub will be renovated in keeping with the Seapub concept.

ROMANTIKA will also be prepared for connecting the vessel with the high-voltage shore connection during its port stays in Stockholm.

FERRY SHIPPING

By | 2019 Newsletter week 36 | No Comments

Tallink Grupp has announced establishing a subsidiary in Singapore this week – Tallink Asia Pte Ltd – which is the group’s first subsidiary in Asia.  The purpose of founding a subsidiary in Singapore is to simplify the development and expansion of the group’s activities in Asia.

FERRY FINANCE & FIGURES

By | 2019 Newsletter week 28 | No Comments

Tallink Grupp Has Signed The Loan Agreement For The New LNG Powered Fast Ferry

AS Tallink Grupp’s subsidiary Tallink Superfast Ltd. and KfW IPEX-Bank GmbH have signed the loan agreement in the amount of EUR 197,6 million to finance the new EUR 247 million LNG powered fast ferry currently under construction in Rauma Marine Constructions Oy.

The loan is arranged and long-term financing is provided by KfW IPEX-Bank GmbH. Finnish Export Credit Agency “Finnvera” guarantees 95% of this post-delivery buyer credit.

The loan is secured by the mortgage on the new vessel and the corporate guarantee of AS Tallink Grupp. This OECD-term export credit loan will be drawn on the delivery of the vessel, presumably in the beginning of 2022 and has the final maturity of twelve years from the drawdown.

FERRY FINANCE & FIGURES

By | 2019 Newsletter week 27 | No Comments

Positive Passenger Trend Onboard Tallink Ferries

Tallink Grupp sets passenger record for the second month in a row and transports record number of passengers in June on the Estonia-Finland routes.

Trends for June 2019

  • +3% passengers
  • -1.6% cars
  • -2.3% c argo units

Trends for Q2

  • +0.8% passengers
  • -3.8% cars
  • -1.5% cargo units

There has been a drop in freight between Estonia and Sweden. On the positive side, the route between Latvia and Sweden improved considerably, at least for cargo, because passengers were less numerous. The four-day absence of a vessel probably explains a lot.

FERRY PORTS

By | 2019 Newsletter week 25 | No Comments

Tallink Grupp Connects First Two Vessels to Shore Power at Port of Stockholm

Tallink has this week started using shore power to provide electricity for two of its vessels, SILJA SERENADE and SILJA SYMPHONY, while they are alongside in port to reduce the environmental impact of the vessels and to minimise air pollution.

The group’s Tallinn-Stockholm route vessels BALTIC QUEEN and VICTORIA I have also been fitted with the shore power connection equipment and will start testing the equipment soon. The company’s other vessels visiting the Port of Stockholm will follow suite in 2020 and 2021.

The Port of Stockholm is currently one of the few ports in the Baltic Sea region to have shore power connection available.

FINANCE

By | 2019 newsletter week 19 | No Comments

Tallink Grupp: Cargo Revenues Continued to Increase, But Overall Revenue for Q1 Was Down

The group reports an unaudited net loss of EUR 25.3 million (net loss of EUR 19.6 million in Q1 2018) and an unaudited total revenue for the quarter of EUR 178.9 million, which is a 2.9% decrease compared to the same period last year.

At the same time, the group’s cargo business continued to increase both in volume and revenue in the first quarter of 2019. The transported cargo volumes increased in total by 2.7%, the cargo revenues increased by 1.5% or EUR 0.4 million and amounted to EUR 29.6 million in the first quarter.

In the Q1 the group made significant investments into the upgrade of its existing fleet with EUR 25.3 million invested mainly into the technical dockings of seven vessels.

Paavo Nõgene, CEO of AS Tallink Grupp said: “The challenging period of dockings is now behind us. Our vessels are fresh, modern and ready to offer our customers new and memorable experiences. We are ready and prepared for the next two quarters of our annual high season and our whole team here at Tallink Grupp will work extremely hard to improve the results of the next months and quarters of 2019.”

FINANCE

By | 2019 Newsletter week 14 | No Comments

Tallink Grupp Publishes 2019 Q1 Passenger And Cargo Statistics

According to the figures published, the group transported

-3.9% passengers (1,855,772)

-3.7% cars (214,087)

+2.7% freight units (93,114)

Reason:

-2.8% less trips (2,234 trips against 2,299 in Q1 last year)

Six vessels have been going through various renewals and upgrades during planned dockings at shipyards in Poland, Lithuania and Finland.