AS Tallinna Sadam subsidiary, OÜ TS Shipping (hereinafter: "TS Shipping"), and Baffinland Iron Mines Corporation (hereinafter: Baffinland) extended the long-term cooperation agreement in 2024 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 2026, as the company continues its focus on the development of the Steensby Inlet railway project during this period.
TS Shipping is currently focused on chartering MS Botnica for various project-based operations in the summer of 2026. This work period also includes time freed up during the Baffinland project.
In 2025, as Baffinland Iron Mines Corporation waived their call oprion, MS Botnica was chartered by Atlantic Towing Limited from 10 September until 6 November. According to a 10-year agreement with the Estonian Transport Administration, Botnica provides icebreaking services in Estonian coastal waters from 20 December to 20 April.
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
