Tallink Grupp, Meyer Turku sign deal for LNG-powered ferry

Tallink Grupp and Meyer Turku signed a contract for the construction of the LNG-powered fast ferry for Tallinn-Helsinki route shuttle operations.

The dual fuel ship will be about 212 metres in length with a passenger capacity of 2800. The fast ferry will cost around 230 million euros and will be built at Meyer Turku shipyard for delivery at the beginning of 2017, the company said in a statement.

The new environmentally friendly ship uses LNG as fuel and complies 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 after the delivery of the vessel. Tallink Grupp plans to finance 80 percent of the new ship cost in 2017 by long term loan. The loan terms will be concluded in the near future.

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Image: Tallink Grupp