Tallinna Sadam comment on the claim filed by Tallink Tallinn Stock Exchange:TSM1T

Tallinna Sadam comment on the claim filed by Tallink Tallinn Stock Exchange:TSM1T

In its recent stock exchange announcement, AS Tallink Grupp (hereinafter: “Tallink”)  announced that it has filed a claim against AS Tallinna Sadam (hereinafter: “Tallinna Sadam”) in the amount of EUR 15.4 million on 01.03.2021 and the submitted claim includes fees paid by AS Tallink Grupp in 2017, 2018 and 2019. Tallinna Sadam has not received the claim yet.

In the opinion of Tallinna Sadam, the claim filed by Tallink for compensation of allegedly unfair port dues is unreasonable and Tallinna Sadam intends to stand up for the sustainability of the company and the interests of its shareholders.

The port dues established by Tallinna Sadam for passenger ships are most competitive in the Baltic Sea region, being still lower than the comparable dues of the ports of Helsinki and Stockholm. Whereas Tallinna Sadam offers a modern port service based on high-quality infrastructure and innovative solutions.

Tallinna Sadam has a long-term and transparent pricing policy, the current level of charges for passenger vessels has been valid since 2016 and they have not been indexed despite the increase in consumer prices. Tallinna Sadam also has no special off-the-price-list agreements with passenger ship operators. The management of Tallinna Sadam has been holding price negotiations with Tallink to reach an agreement on the port dues established for passenger ships, but Tallink’s demands so far have been unreasonable and clearly harmful to the financial interests of Tallinna Sadam.

Additional comments can be shared after receiving and reviewing the statement of claim and the arguments thereon. Tallinna Sadam is ready to continue to resolve the matter by compromise.

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. According to unaudited financial results, the group’s sales in 2020 totalled EUR 107.4 million, adjusted EBITDA EUR 58.4 million and profit EUR 28.5 million.

Additional information:

Sirle ArroHead of Marketing and CommunicationTel. +372 513 0979E-mail: s.arro@ts.ee

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