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

Ports

Cove Point LNG Export Facility Gets US FERC Approval

U.S. federal regulators on Monday approved construction of Dominion Resources Inc's liquefied natural gas export project in Cove Point, Maryland. Cove Point is the fourth U.

DMR Examines Container Terminal Congestion Issues

Container port congestion has been hitting the headlines recently, but the reasons for it vary widely and in many cases it is only a short term issue. Certain world

Fire at Milazzo Refinery Impacts Docks

Inchcape Shipping Services  is advising of extensive disruption after a fire broke out Friday afternoon (27 September) at Italy’s energy giant Eni and Kuwait Petroleum’s

Finance

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

GasLog Closes First Option Vessels Dropdown

GasLog Ltd.  announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea,

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

News

NY Harbor Supply & Distribution Fall Reception/Buffet

More than 600 attendees are expected at the 52nd annual New York Harbor Supply & Distribution Fall Reception/Buffet for the energy and energy related industries

Kounalakis Joins OW Bunker N. America

OW Bunker, a reseller and physical supplier of marine fuels, announced the appointment of Georgia Kounalakis to its physical supply operation in North America.

Louisiana to Get Natural Gas Liquefaction and Fueling Facility

Tenaska Bayou LNG expected to meet growing marine, transportation and oil and gas exploration and production demand on the Gulf Coast Tenaska NG Fuels, LLC and Waller Marine, Inc.

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair 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: 0.1709 sec (6 req/sec)