World News: 14:00 GMT Tuesday 14th January 2020. [AS Tallinna Sadam via Globe Newswire via SPi World News]
Due to continuously increasing demand on the Virtsu-Kuivastu ferry line, the Minister of Economic Affairs and Communications authorized the Estonian Road Administration to negotiate with OÜ TS Laevad, a subsidiary of AS Tallinna Sadam, to acquire an additional new-built ferry for servicing the Virtsu-Kuivastu line.
According to the ferry services agreement with the Estonian Road Administration signed on 11.12.2014, TS Laevad provides ferry services on the Rohuküla-Heltermaa and Virtsu-Kuivastu ferry lines until 30.09.2026. TS Laevad also has the necessary competence in the specialities of operating ferry lines and up-to-date experience in acquiring new ferries.
Subject to the results of further analyses and negotiations, the Ministry of Economic Affairs and Communications has set the goal for the Road Administration to conclude an agreement with TS Laevad by 31.03.2020 on the terms and conditions for acquiring and operating the new vessel. More detailed impact on the economic activities of Tallinna Sadam Group can be assessed after the agreement with the Estonian Road Administration has been signed and the cost of the vessel has become clear.
Marju ZirelHead of Investor RelationsAS Tallinna Sadam
Globe Newswire: 14:00 GMT Tuesday 14th January 2020
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