Icebreaker Botnica charter in summer 2019

Tallinn, ESTONIA

Baffinland Iron Mines LP declared of using the contractual option to charter the multifunctional icebreaker Botnica in 2019 during the period from the end of June to the end of October. The exact number of chartering days and the number of trips to Northern Canada depends on weather and other conditions.

In the beginning of summer 2018, the subsidiary company of AS Tallinna Sadam, OÜ TS Shipping, signed an agreement with Baffinland Iron Mines LP for chartering m/v Botnica for the 2018 summer period including annual call options for the summer periods in 2019-2022. Baffinland Iron Mines LP is a Canadian mining company, engaged in the mining of iron ore on Baffin Island in Northern Canada. According to the agreement m/v Botnica will provide escort ice management services, oil spill and emergency response services.

Last summer m/l Botnica assisted Panamax type vessels within the iron ore export project in the Arctic waters of northern Canada more than 80 times and proved its ability to work in extreme conditions.

Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2017 serviced 10.6 million passengers and 19.2 million tons of cargo. 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 m/v Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of a joint venture AS Green Marine, which provides waste management services. Tallinna Sadam group's sales in 2017 totaled EUR 121.3 million, adjusted EBITDA EUR 66.5 million and net profit EUR 26.4 million.

Additional information:

Marko Raid
Chief Financial Officer/Member of the Management Board
AS Tallinna Sadam