Key TakeawaysA $22.8 billion acquisition of global ports by a consortium led by BlackRock (BLK) and MSC is facing collapse as China's COSCO Shipping Holdings (601919.SS, 1919.HK) demands a majority stake, prompting the buyers to consider withdrawing.Spain is set to launch a new nationwide public transport card in January 2026, which the Spanish Transport Minister estimates will cost the state 1.37 billion euros, offering users a flat monthly fee of €60.The New Zealand Dollar surged 0.84% to $0.5842, marking ...

"水运江苏"高效协同机制薄弱环节 □ 吴朋宋桂杰 依托长江、大运河等骨干航道与沿海、沿江港口群优势，水运已成为江苏联通内外市场、畅通产业链供 应链循环的关键纽带。在此背景下，须通过构建高效协同机制破解水运建设瓶颈，激活江河湖海联动效 能，加快构建标准更高、效益更好的现代化水运体系，为全省经济社会高质量发展提供坚实支撑。 以港口协同分工构建错位发展格局，提升区域港口竞争力。一是明确省内港口功能定位。连云港港聚焦 新亚欧陆海联运通道枢纽，苏州港锚定集装箱干线港目标，南通港主攻清洁能源储运，内河港口则侧重 货源集并，形成"沿海远洋枢纽+沿江集装箱干线+内河喂给网络"的分工体系。二是深化与上海港、宁 波港协同联动。加密"连申快航""苏甬快航"等航线频次，在空箱调运、泊位共用、货源分配等领域开展 深度合作，降低跨港中转成本。三是积极应对省际港口竞争。建立苏鲁、苏皖、苏浙港口常态化沟通机 制，围绕货源分配、运价协调、航线布局等开展定期协商。 跨区域跨流域协同不足，航道网络联通性亟待提升。一方面，省际航道衔接存在断点。省际航道建设因 跨省协调难度大，部分路段进度滞后，导致水运通道未能有效贯通。另一方面，沿海与内河协同不足。 ...

Core Points - AS Tallinna Sadam plans to disclose its financial results and hold its annual general meeting according to a specific schedule in 2026 [1] - The company is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing various services including ferry operations and shipping [2] Schedule of Financial Disclosures - The unaudited interim report for 2025 will be released on February 26, 2026 [1] - The audited annual report for 2025 and dividend proposal will be disclosed on April 2, 2026 [1] - The annual general meeting of shareholders is scheduled for April 28, 2026 [1] - Additional interim reports for Q1, Q2, and Q3 of 2026 will be published throughout the year [1] Company Operations - Tallinna Sadam operates ferry services between the Estonian mainland and its largest islands through its subsidiary OÜ TS Laevad [2] - The company also engages in shipping activities via its subsidiary OÜ TS Shipping, which charters the multifunctional vessel Botnica for icebreaking and offshore services [2] - Tallinna Sadam is a shareholder in AS Green Marine, which provides waste management services [2]

Core Viewpoint - BlackRock and MSC's acquisition of most of CK Hutchison's global port operations is facing scrutiny from EU antitrust regulators, particularly concerning the Spanish segment of the deal [1] Group 1 - The deal involves a significant portion of CK Hutchison's global port operations [1] - EU antitrust regulators are set to investigate the Spanish part of the acquisition [1]

Group 1 - Tallinna Sadam initiated bankruptcy proceedings against MPG AgroProduction OÜ due to MPG's long-term failure to fulfill contractual obligations [1][2] - The bankruptcy process for MPG began on 28 November 2023, with subsequent reorganization attempts and a final bankruptcy declaration on 15 October 2024 [1] - MPG's appeal against the bankruptcy order was dismissed by the Tallinn Circuit Court on 9 September 2025, confirming the previous court's decision [1] Group 2 - Tallinna Sadam is a major player in the Baltic Sea region, operating one of the largest cargo and passenger port complexes [3] - The company provides various services, including ferry operations through its subsidiary OÜ TS Laevad and icebreaking and offshore services via OÜ TS Shipping [3] - Tallinna Sadam also holds a stake in AS Green Marine, which specializes in waste management services [3]

Legal Proceedings - The Harju County Court terminated criminal proceedings against former management board members of AS Tallinna Sadam due to expiration of the limitation period, acknowledging participation in corrupt agreements but classifying them as private sector corruption [1] - The Tallinn Circuit Court partially annulled the Harju County Court's decision, agreeing with the prosecutor's office and victims that certain acts must be reclassified, but upheld that Ain Kaljurand and Allan Kiil were not public officials [2] Company Overview - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing passenger and freight services, and operating in shipping through subsidiaries [5] - Subsidiary OÜ TS Laevad offers ferry services between the Estonian mainland and islands, while OÜ TS Shipping charters the vessel Botnica for icebreaking and offshore services [5] Financial Impact - The management board believes that the legal events will not materially affect the Group's financial performance or position [4]