Changes in the 2024 additional summer work of the icebreaker Botnica

In the beginning of July, the contract signed between OÜ TS Shipping, a subsidiary company of AS Tallinna Sadam, and BP Exploration Operating Company Ltd (hereinafter: BP) for chartering the multifunctional icebreaker Botnica terminated. Botnica operated as a service operation vessel to BP since May. Due to vessel technical issues the planned 8-week charter period (subject to possible 4-week extension) was shortened.

Preparations are currently being made for Botnica's next planned offshore operations in the North Sea region, which will contribute to ensuring a revenue base similar to previous years.

From 2018, Botnica has an agreement with Baffinland Iron Mines Corporation to assist Panamax-type cargo vessels in Arctic waters of northern Canada for exporting Iron Ore from the Milne Inlet port to the ocean. In 2024, the charter period in Canada will start in September and will last a minimum of 60 days.

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:

Angelika Annus
Head of Investor Relations
Tel. +372 5649 6230

E-mail: angelika.annus@ts.ee