1H 2014 Profits of Port of Tallinn Up 16%

By Joseph R. Fonseca
Friday, August 01, 2014
Port of Tallinn


Port of Tallinn earned an unaudited half-year net profit of 20.2 million euros with company’s turnover reaching 59 million euros. Compared to last year the turnover increased by 7% and the net profit by 16%.

“The first half of this year introduced the best ever figures for Port of Tallinn, both financially and concerning the record number of passengers,” said Ain Kaljurand, the Chairman of the Management Board of AS Tallinna Sadam.
The turnover of state-owned Port of Tallinn increased by 7% to 59 million euros, while the operating expenses had a raise of 3.3% and reached 26.4 million euros during the same period.
“The best ever turnover and profit were accomplished due to the revenue of traditional port activities as well as employing the icebreaker Botnica at the offshore-duties during the summer navigation periood,” added Kaljurand.
Compared to the previous year the volume of cargo handled in the ports of Port of Tallinn increased by 2% to 15.2 million tonnes. The number of passengers raised by 5% to a record of 4.4 million people, lead by the constant growth on the Tallinn-Helsinki route.
During the first half-year period Port of Tallinn transmitted to Estonian state budget a record amount of dividends – 42 million euros. In addition to the dividend payment an income tax of 11.2 million euros was provided.
In May 2014 Port of Tallinn opened a new 9.34 million euro cruise ship quay in Vanasadam. The quay enables Tallinn to moor cruise ships up to 340 metres in length, up to 42 metres in width, and with the draft of up to nine metres.
The operator finished the installation of terminal devices in Muuga Harbor’s container terminal infrastructure and the terminal operated as planned by the end of the first 6 months of this year.
In six months the ports of Port of Tallinn were visited by cargo ships 1051 times and cruise ships 2327 times.

Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Retailers Well Stocked as Holidays Approach

Import cargo volume at the nation’s major retail container ports is expected to increase 3.3 percent this month over the same time last year as retailers make final

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Chevron Cylinder Oil Gains NOL from Wärtsilä

Chevron Marine Lubricants’ 100BN cylinder oil, Taro Special HT 100 has received approval for its use in another engine range – products made by Winterthur Gas & Diesel Ltd.


Commodity Surge Boosts World Equities; Dollar Falls

Major world stock markets were poised for their biggest weekly advance since 2011 on Friday, as greater investor appetite for riskier assets propelled gains in

Commodities See Biggest Price Jump in 3 Years

Commodities jumped on Friday, headed for their largest weekly gain in more than three years as base metals roared higher after Glencore pledged to slash zinc output

Asia-N.Europe Box Rates Plunge 17 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 17.3 percent to $259 per 20-foot container (TEU) in the week ended on Friday,


US Shipowner Creates Fund for Families of Missing El Faro Crew

The owners of the cargo ship El Faro that sank after it was trapped in the path of Hurricane Joaquin off the Bahamas last week announced the creation of a family

Coast Guard Foundation Raises $250,000 for Scholarships

The Coast Guard Foundation, a nonprofit organization committed to the education and welfare of all Coast Guard members and their families, announced today that

Newport News Shipbuilding Converts to Natural Gas

Huntington Ingalls Industries (HII) announced today that its Newport News Shipbuilding division has converted its steam-generation plant from heavy fuel oil, also known as Bunker C,

Maritime Security Maritime Standards Naval Architecture Offshore Oil Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1884 sec (5 req/sec)