Published: 2014-07-21 09:00:00 CEST
Tallink Grupp
Company Announcement

Chartering of Silja Europa

Tallinn, 2014-07-21 09:00 CEST -- 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