Icebreaker Botnica summer charter contract with Baffinland for 2024-2028

AS Tallinna Sadam subsidiary OÜ TS Shipping (hereinafter: "TS Shipping") and Baffinland Iron Mines Corporation (hereinafter: Baffinland) extended the agreement signed in 2018 for MS Botnica to assist cargo vessels in the Arctic waters of Canada. The MS Botnica will escort Panamax-type vessels loaded with iron ore from Milne Inlet Port to the ocean. This contractual arrangement spans the period from 2024 to 2028 and includes the annual call options to charter the ship at least 60 days per year from September to December.

In 2024, the charter period will start in September and lasts at least 60 days.

The exact number of chartering days depends on weather and other conditions. The daily hire rate for this period is comparable to last year’s charter.

From May to July 2024, TS Shipping has a charter agreement with BP Exploration Operating Company Ltd to support work scopes at BP’s Mungo normally unattended installation, located in the North Sea UK Sector. According to a 10-year agreement with the Estonian Transport Administration, Botnica provides icebreaking services in Estonian coastal waters from December 20 to April 20.

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:

Andrus Ait
Chief Financial Officer
Tel. [phone]
[e-mail]