The state will not use the buy-back option for ferries

In accordance with the public service contract for the carriage of passengers on the Rohuküla-Heltermaa and Virtsu-Kuivastu ferry lines concluded between the Republic of Estonia and the subsidiaries of AS Tallinna Sadam TS Laevad OÜ and OÜ TS Shipping (11.12.2014 n ° 14-009), the Ministry of Economic Affairs and Communications informed that the State, as a transport customer, will not use the option to buy back the ferries specified in article 29 of the contract. According to the contract, the State had the right to buy back one to four ferries belonging to TS Laevad OÜ built for the purpose of the contract at a fixed price at the end of the contract period, giving notice of the exercise of the option not at most later than 30.09.2022.

TS Laevad serves Saaremaa and Hiiumaa passenger lines on the basis of a passenger transport contract valid until 30.09.2026, the state has not yet announced a tender for a service provider for the next period.

Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, serving an average of 10 million passengers and 20 million tons of cargo annually. In addition to passenger and cargo services, the Tallinna Sadam Group also operates in the maritime sector through 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. The Tallinna Sadam Group is also a shareholder in an associated company, AS Green Marine, which provides waste management services. The group’s sales in 2021 amounted to 110 million euros, adjusted EBITDA to 54 million euros and profit to 26 million euros.

Further information:

Marju Zirel
Head of Investor Relations
Such. +372 5342 6591

[email protected]