Tallink sells vessel to fund LNG ferry construction

Tallink Grupp of Estonia has on Tuesday concluded sale-charterback agreements for MS Superstar with Medinvest at a price of EUR 91.5 million.

The cash proceeds from the sale will be used mainly to repay loans and for the down payment of the new LNG fast ferry under construction, the company said in a statement.

Concurrently Tallink Grupp and Medinvest have entered into bareboat charter agreement and Tallink will continue to operate the fast ferry Superstar on its Tallinn-Helsinki route shuttle service until the beginning of 2017, when the Tallink’s new LNG fast ferry will start to operate on the same route.

Change of the ownership and start of the charter period of the fast ferry Superstar is planned in December this year.

LNG World News Staff; Image: Tallink Grupp