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Insurance compensation for repairs to the icebreaker Botnica
Globenewswire· 2025-04-30 13:00
Group 1 - The contract between OÜ TS Shipping, a subsidiary of AS Tallinna Sadam, and BP Exploration Operating Company Ltd for the chartering of the multifunctional icebreaker Botnica was terminated in early July 2024 due to a technical failure [1] - Following the termination, repair works were conducted to eliminate the fault, and the vessel Botnica is expected to continue with its next planned charter work [2] - The technical fault was classified as an insured event, resulting in an insurance compensation of 900,000 euros for the repairs, which will positively impact the financial results of the Tallinna Sadam group in Q1 2025 [2] Group 2 - Tallinna Sadam is one of the largest cargo and passenger port complexes in the Baltic Sea region, providing various services including ferry operations and icebreaking [3] - The group operates through subsidiaries such as OÜ TS Laevad, which offers ferry services, and OÜ TS Shipping, which charters the icebreaker Botnica for offshore services [3] - Tallinna Sadam is also a shareholder in AS Green Marine, which specializes in waste management services [3]