AS Tallink Grupp and Rauma Marine Constructions (RMC) have signed the contract for the construction of a new LNG-powered fast ferry for the Tallinn – Helsinki route shuttle operations, which enters into force today.
Similarly to the group’s newest vessel Megastar, the new shuttle ferry will also be dual fuel operated, its overall length will be approximately 212 metres and with a passenger capacity of 2,800. The vessel will cost approximately 250 million euros and it will be built at the Rauma shipyard in Finland, providing approximately 1,500 man-years of employment for the shipyard. The delivery of the vessel is expected in January 2022.
The new vessel is another step for Tallink Grupp towards achieving even greater energy efficiency and eco-friendliness for its shipping operations. The new shuttle ferry, with a gross tonnage of approximately 50,000 and a service speed of 27 knots, will use LNG as main fuel and meet all the current and future known emission regulations.
According to the contract, 30 percent of the total cost will be paid during the construction period and the rest after the delivery of the vessel. AS Tallink Grupp plans to finance 70 percent of the new ship cost in 2022 by long-term loan, the loan terms will be concluded in the near future.
Commenting on the contract, Paavo Nõgene, the CEO of Tallink Grupp, said:
"The construction of Megastar and bringing this next generation vessel onto the Baltic Sea, has transformed our shuttle service between Tallinn and Helsinki. The vessel has been extremely well received by our customers, with over 4 million passengers already having travelled on the vessel. In addition to the increased passenger comfort, just as importantly, Megastar has taken our operations also to the next level in terms of environmentally friendly operations and increased efficiency.
It was therefore only logical that a similar vessel should be built for the route sooner or later to enhance our operations on this important route for us even further. We are pleased to have signed the construction contract with RMC, thus supporting also our regional economies due to the construction taking place in Rauma, and we look forward to starting the shipbuilding process.“
Commenting on the contract, Jyrki Heinimaa, the CEO of RMC, said:
"We are very proud that Tallink trusted us in giving this important project to RMC for successful design and manufacturing their newest shuttle ferry, which takes some benefits from the existing fleet, but exceeds them in performance thanks to the integration of the newest technology applications, for example concerning power demand. In RMC’s path to global technology leadership in ferry building, this project is a great milestone and brings us on an even level with the market leaders.
“The project itself is extremely awaited in Rauma, since it allows us to continue our amicable co-operation with our colleagues at Tallink, of which we have had great experiences already since the beginning of the millennium, when M/S Romantika was under construction in Rauma as the first newbuilding ferry of Tallink Grupp.“
AS Tallink Grupp is one of the leading providers of passenger transport and cargo transport services in the northern part of the Baltic Sea region. The company owns 14 vessels and operates seven ferry routes under the brand names of Tallink and Silja Line. AS Tallink Grupp employs over 7,400 people in Estonia, Finland, Sweden, Latvia, Russia and Germany. In 2018, Tallink Grupp provided services to 9.8 million travellers and transported approximately 385,000 freight units of goods. The shares of Tallink Grupp are listed on the Nasdaq Tallinn Stock Exchange and Nasdaq Helsinki Stock Exchange.
Veiko Haavapuu
Financial Director
AS Tallink Grupp
Sadama 5/7, 10111 Tallinn, Estonia
E-mail veiko.haavapuu@tallink.ee