• 2019 May 17 09:51

    Port of Tallinn Group’s revenue in 1Q’19 amounted to EUR 28.5 million, profit to 11.0 million

    In the first quarter of 2019, the revenue of Port of Tallinn and subsidiaries amounted to EUR 28.5 million, declining by 3% compared to the same period last year. The Group's adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was EUR 16.9 million in the first quarter, declining by 4.2% year-on-year. Net profit decreased by EUR 0.8 million to EUR 11.0 million in the first quarter.

    According to Valdo Kalm, Chairman of the Management Board of Port of Tallinn, the most significant impact on the results of the first quarter was the planned maintenance of passenger vessels, which resulted in a temporary break of service of several passenger vessels. “According to international maritime regulations, all passenger vessels must undergo regular maintenance and dock. Due to the maintenance, Tallink, Viking Line and Eckerö Line vessels were out of service and therefore the volumes of passengers as well as ro-ro cargo passing through the harbours declined in the first months of the year,” explained Kalm.

    Company’s revenue decrease in the first three months of 2019 was also impacted by a drop in the volume of liquid bulk. “The volume of liquid bulk handled at the harbours of the Group decreased mainly at the beginning of the year, as a result of which both vessel fees and cargo fees decreased. Liquid bulk volumes have stabilized at the end of the quarter, and we see this trend continuing,” noted Valdo Kalm.

    The revenue of the shipping segment slightly grew through the indexation of the contractual fees. 

    Port of Tallinn invested EUR 3.9 million in the first quarter of 2019. The figure is larger than in the same period last year when investments totalled EUR 1.9 million. Investments of the period were mostly related to the reconstruction of passenger terminal D at the Old City Harbour.

    Despite the modest decline in revenue and profit at the beginning of the year, the Management Board estimates that the profit target set for 2019 will be achieved and deviations from the set dividend policy will not occur.

    In addition to the parent company, the Port of Tallinn Group includes subsidiaries OÜ TS Shipping, OÜ TS Laevad and an associate AS Green Marine.




2019 May 25

15:25 Svitzer begins sea trials of new line handling technology
13:41 HII’ first cut of steel kicks off advance construction for Columbia-Class submarine program
12:38 Two new LNG-Hybrid vessels to join Seaspan Ferries fleet
11:33 GSL to acquire three containerships

2019 May 24

18:07 Port of Antwerp 1st port of call for reefer service from Peru, Chile, Colombia, Ecuador and Panama
17:49 Hannu Ylärinne appointed COO and Executive Vice President of Arctia Group having retained his position as CEO of Meritaito
17:28 Coast Guard issues waterway restrictions on Mississippi, Illinois Rivers
17:11 NOVATEK obtains new licenses on Krasnoyarsk Territory
17:02 CMA CGM launches the Reefer Pharma division for the temperature-controlled transportation of pharmaceutical products
16:50 Throughput of Rostov-on-Don port in 4M’19 fell by 7% Y-o-Y to 5.11 million tonnes
16:28 Teekay Tankers reports 1Q 2019 results
16:17 Acta Marine names its third W2Work offshore vessel Acta Centaurus
15:53 Ambal ferry returns to Baltijsk-Ust-Luga line after scheduled maintenance
15:27 Surveillance camera installed by Freeport of Riga Authority on Krievu Island for coal dust monitoring
14:59 Port of Tallinn got acknowledged as socially responsible company
14:01 Port Houston volume up nine percent year-over-year
13:50 Feodor Shishlakov appointed head of Volgo-Baltic Administration
13:22 PSA, PFR and IFM investors jointly acquire DCT Gdańsk
12:18 ASI Marine develops an alternative safe method for surveying in hazardous high flow areas.
12:00 Lotos shipyard launches Peotr Veliky, cruise ship of Project PV300VD
11:37 New tugboat built by Damen to expand port fleet of Nakhodka TSP
11:16 SeaBird announces update on vessel acquistion and contemplated private placement of new shares
11:06 Jotun creates new standard for predictable, long-term antifouling protection with SeaForce and HydractiveTM technology
11:01 Global Ship Lease announces agreement to acquire three containerships
10:45 Russian ship owners got 29 new seagoing commercial ships with total deadweight of 552,400 tonnes in 2018 - CNIIMF
10:24 Brent Crude futures price is up 1.22% to $68.59, Light Sweet Crude – up 1.23% to $58.62
10:11 NORDEN boosts Middle East activities with new 3-year contract
10:09 Royal IHC names 2,300m³ TSHD LESSE
09:58 Rotterdam sends hyper-smart container on trip around the world
09:47 Bunker prices go down at the port of Saint-Petersburg, Russia (graph)
09:26 ZIM announces changes to MGX Service
09:16 MABUX: Bunker market this morning, May 23
09:15 Baltic Dry Index is up to 1,068 points
08:50 Bunker prices review at global sea ports, Week 21st, 2019

2019 May 23

18:43 DOF Subsea secures contract in Brazil
18:21 ZIM Q1 2019 revenues rose 6.0% to $796.2M
18:06 MOL to Join Consortium on TCFD (Task Force on Climate-related Financial Disclosures)
17:44 CNIIMF forecasts NSR cargo traffic to reach 100 million tonnes by 2035
17:11 USCG closes case of downed aircraft in Prince William Sound
17:06 Port of Rotterdam sees significant progress in development HES Hartel Tank Terminal
16:55 GOGL announced net loss of $ 7.5M vs net income of $ 23.6M in 1Q 2019
16:30 New digital solution from Rolls-Royce and ZF improves availability and CO2 emissions of ships
16:05 CMA CGM orders 50,000 Traxens trackers
15:23 OCTOMAR Serviços Marítimos takes delivery of Damen Fast Crew Supplier 2206
14:47 RF Navy’s destroyer participated in combat training in the Sea of Japan
13:36 High Representative/Vice-President Federica Mogherini visits ITS Carlo Margottini
13:05 Singapore to host Port Maintenance and Facilities Management Summit on 24-27 September 2019
12:29 Optimarin gears up for retrofit wave with expansion and new hires
12:19 FESCO and Russian Railways launch transit service for delivery of goods from Japan to Europe through Russia
11:43 Bunker prices go up at the Far East ports of Russia (graph)
11:21 Severnaya Verf starts cutting metal for third processing trawler of Project 170701 ordered by NOREBO Group
11:08 Diana Shipping announces time charter contract for m/v Baltimore with Koch
10:26 Brent Crude futures price is down 0.69% to $70.5, Light Sweet Crude – down 0.6% to $61.05
10:08 Port of Antwerp aims for more efficient road transport with night-time opening hours on Right bank of Scheldt
09:57 Kuibyshev reservoir level allows for fleet operation - RF Transport Ministry
09:39 NOVATEK signed MoU with Ninh Thuan Province in Vietnam
09:20 Baltic Dry Index is up to 1,059 points
09:10 MABUX: Bunker market this morning, May 23
09:08 Royal IHC signs contract with Cameroon’s Port Authority of Douala
08:25 Sempra LNG and Aramco Services Company sign heads of agreement for Port Arthur LNG