M&A Activity • Jul 21, 2014
M&A Activity
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Chartering of Silja Europa
Tallinn, 2014-07-21 09:00 CEST (GLOBE NEWSWIRE) --
Chartering of Silja Europa
AS Tallink Grupp and Bridgemans Services Ltd. have entered into a charter
agreement to charter the cruise ferry Silja Europa to Australia from August
2014 as an accommodation vessel. The period of the charter is at least 14
months with an option to extend up to 48 months.
In relation to the above initially the following re-routings are planned in our
operations: Baltic Queen which is operating on Tallinn-Stockholm today will
change to Tallinn-Helsinki route presumably on 7 August 2014 and Romantika
which is operating on Riga-Stockholm route today will change to
Tallinn-Stockholm route. Isabelle will continue the service on Riga-Stockholm
route.
Tallink Grupp will continue to work with different alternatives in order to
optimize its fleet and routes, which may bring some further changes to the
operations.
The charter of Silja Europa and ships route changes will bring the necessity to
lower the number of employees. Respective discussions with employee unions have
been started.
The above transactions will improve the Group?s operational efficiency and
profitability. When compared to 2009 built Baltic Queen the older Silja Europa
has higher operating costs, especially when considered in relation to the new
sulphur regulations in 2015.
Harri Hanschmidt
Head of the Finance Department
AS Tallink Grupp
Sadama 5/7. 10111 Tallinn
Tel +372 640 8981
E-mail [email protected]
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