Tallink Firms Up LNG Ferry Deal

The Estonian ferry operator AS Tallink Grupp and Finland’s Meyer Turku Oy signed a contract for the construction of an LNG-powered fast ferry for Tallinn-Helsinki route shuttle operations.

The 49,000 GT dual fuel ship will be about 212 metres in length with a passenger capacity of 2,800. The fast ferry will cost around EUR 230 million (USD 258.3m), and will be built at Meyer Turku shipyard for delivery at the beginning of 2017.

The new ship will comply with the new and stricter emission regulations for the ECA areas including the Baltic Sea.

According to the contract 20 percent of the total cost will be paid during the construction period and the rest upon delivery of the vessel.

AS Tallink Grupp has reported EUR 27.3 million net profit and EUR 921.5 million revenue in unaudited results for 2014 financial year. The group’s unaudited consolidated revenue is 2.2 percent lower compared to the previous year.

Tallink and its subsidiaries carried a total of nearly 8.9 million passengers in the 2014 financial year, 2.6 percent less than the year before.

The group justifies weaker than expected 2014 results with increased competition, continuously weak Nordic economic environment and one-off effects.
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