AS Tallinna Sadam subsidiary, OÜ TS Shipping (hereinafter: "TS Shipping"), and Baffinland Iron Mines Corporation (hereinafter: Baffinland) extended the long-term cooperation agreement last year for the chartering of the multifunctional icebreaker MS Botnica to assist cargo vessels in Canadian Arctic waters. MS Botnica escorts Panamax-type ships loaded with iron ore from Milne Inlet Port to the open sea. The agreement covers the period from 2024 to 2028 and includes annual call options for chartering the vessel for at least 60 days per year from September to December.
Baffinland Iron Mines Corporation has announced its decision to waive the call option for chartering the vessel in the fall of 2025, as the company will focus on the development of the Steensby Inlet railway project during this period.
TS Shipping is currently in negotiations with potential clients for chartering MS Botnica for various project-based operations during the summer of 2025. The discussed work period also includes the time freed up by Baffinland's project.
In 2024, MS Botnica was chartered by Baffinland from 5 September until 9 November.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region. 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 offshore services in Estonia and projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services.
Additional information:
Angelika Annus
Head of Investor Relations
Tel. +372 5649 6230
E-mail: angelika.annus@ts.ee
