Port of Tallinn invests in Paldiski South Harbor

By Joseph R. Fonseca
Wednesday, July 02, 2014
Port of Tallinn

 

The council of Port of Tallinn approved an investment of 1.8 million euros for deepening the aquatory of Paldiski South Harbor in order to enable the harbour to accept bigger vessels with total tonnage up to 75,000 GT. With the help of the investment aimed to increase the competitiveness of Paldiski South Harbor the channel and turning circle of the aquatory will be deepened from current 13.5 meters to 14.5 meters.

“Paldiski South Harbor today is a regional cargo harbour oriented towards handling both, the Estonian export and import cargo and specific transit goods,“ said Remo Holsmer, the Chairman of the Council of Port of Tallinn. “The investment in increasing the competitiveness of Paldiski South Harbor is made while looking into the future and the aim is to satisfy the future needs of present clients as well as raise harbor’s attractiveness for new potential clients.“

The core activity of Paldiski South Harbor is focused today on the handling of ro-ro cargo, scrap metal, timber, peat and oil products. Developing fields of activity include transit of new cars for neighbouring markets and pre-sale service.

Port of Tallinn is Estonia’s biggest harbor complex that completely belongs to the state. For 2014, Port of Tallinn forecasts 8% growth of operational income (that will reach 111 million euros) and the net profit of 37 million euros. The expected growth of turnover of goods is slightly below 2% (reaching 29 million tons), while the number of passengers serviced by the port is to remain on last year’s level of 9.19 million people.
 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

South Carolina Ports Container Volume Up by 13%

SC Ports Authority reported container volumes up 13 percent fiscal year to date, a strong start to the first two months of the fiscal calendar. The SCPA handled 163,

Maritime Reporter @ 75: The Daily Cartoon

Maritime Reporter & Engineering News was founded by John J. O'Malley (1905-1980) in 1939, and today ranks as the world's largest audited trade publication in the world serving the maritime industry,

Finance

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

News

Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic.

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Russia: Exxon Still Drilling in its Arctic

ExxonMobil is still drilling in the Russian Arctic, a Russian minister said on Friday, in move that if confirmed will anger Washington after the U.S. administration

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1729 sec (6 req/sec)