Tallink Grupp

Letter of intent for constructing a new generation LNG vessel

Tallinn, 2014-12-11 13:30 CET (GLOBE NEWSWIRE) --

Letter of intent for constructing a new generation LNG vessel

AS Tallink Grupp and Meyer Turku Oy signed a Letter of Intent for the

construction of an environmentally friendly car-passenger ferry for the

Tallinn-Helsinki route shuttle operations. The ship will cost around 230

million euros and will be built at Turku shipyard for delivery in the beginning

of 2017. The project will provide approximately 2000 man-years employment for

the shipyard.

The new ferry will be about 212 metres in length with a gross tonnage of 49

000. The ship will operate on the route between Helsinki and Tallinn and she is

planned to carry 2800 passengers.

The vessel will bring significant improvement in energy efficiency which is

achieved by applying numerous innovations and new technical solutions. Green

values, reduction of all emissions, minimizing the amount of waste and

increasing recycling utilization, have been very carefully taken into account

in the design of the ferry. The ship uses LNG as fuel and she complies with the

new and stricter emission regulations for the ECA areas including the Baltic

Sea.

?A series of six ferries between years 2002-2009 has been delivered to Tallink

and this ship will be the 7th newbuilding for the same shipowner. I´m very

happy that Meyer Turku will continue the excellent and trusting cooperation

with Tallink. This new ferry prototype gives us an excellent opportunity to

apply improved design & building methods. For all these reasons this Letter of

Intent signed today is very important to Meyer Turku and to the entire Finnish

shipbuilding cluster.?, says Jan Meyer, CEO of Meyer Turku Oy.

Management Board Member of AS Tallink Grupp, Janek Stalmeister said that with

the new ferry Tallink aims for an upgrade of the Tallinn-Helsinki route ferry

service. ?As the market leader and a long time operator on the route we have a

good understanding of customer expectations and know what needs improvement. I

am confident that the world-class experience of Meyer Turku will be once again

a valuable asset for us to deliver a high quality new ferry, which will

strengthen our competitive advantages.?, added he.

Over the next few months Tallink Grupp and Meyer Turku will work towards the

shipbuilding contract and financing arrangements.

Harri Hanschmidt

Head of the Finance Department

AS Tallink Grupp

Sadama 5/7. 10111 Tallinn

Tel +372 640 8981

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