Tallink charters its cruise ferry to Australia

Estonian listed ferry group Tallink and Bridgemans Services Ltd. have entered into a charter agreement to charter Tallink’s 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.

For Tallink, the deal means that M/S Baltic Queen which is operating on Tallinn-Stockholm route will change to Tallinn-Helsinki route on 7 August 2014 and M/S Romantika which is operating on Riga-Stockholm route will change to Tallinn-Stockholm route. M/S Isabelle will continue the service on Riga-Stockholm route.

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Listed companies increasing divident payouts

Out of the 13 companies listed on the Tallinn stock market, 10 are planning or have already announced dividends this year.

The total will be 82 million euros, Postimeesreported today, with more companies than ever announcing a policy of dividends.

Ekspress Grupp, owners of Delfi, and ferry operator Tallink began paying out dividends last year and are now joined by construction giant Nordecon, with Merko Ehitus (also construction), Tallinna Kaubamaja (store), Silvano GG (fashion), Harju Elekter (power), Olympic (casinos), Premia foods and Tallinna Vesi (waterworks) all expected to indulge shareholders.

Source: ERR

Tallink reports EUR 23m loss in Q1

Ferry operator Tallink had an operating loss of 23 million euros in the first quarter.

The first quarter is normally a low season for the company, but the loss was one-third larger than the loss in the first quarter of last year.

Several ships underwent scheduled maintenance in the first quarter, but the results were also affected by the maintenance and upgrading of the cruise ship Silja Serenade.

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Biggest private investor pulls out of Estonian share

Stefan Andersson, a Swedish private investor who has been one of the biggest investors in Tallinn Stock Exchange, has sold most of its holdings, writes Äripäev.

Last year, Andersson sold 842,706 euros worth of shares of Merko Ehitus, 235,000 euros worth of Tallinna Vesi, 115,000 euros worth of Tallink and 95,000 euros worth of Järvevana.

In addition, he sold 413,000 euros in Fortum shares and 163,000 euros of UPM shares.

All in all, Andersson sold about 1.9 million euros worth of shares in 2013.

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Tallinn stock market too small

NASDAQ OMX Tallinn head of board Rauno Klettenberg said the market’s trading volumes are low, but enlisting state companies on the stock market would bring back life.

According to Postimees, trading turnover in the Tallinn stock market was 48 million euros in the first quarter this year, 40 percent less than during the same period last year.

Read more from ERR

Estonian casino operator increases share in Italian company

The listed Estonian casino operator Olympic Entertainment Group (OEG) is increasing its holding in The Box, a company that manages operations in Italy, to 70%.

The Box is, in turn, acquiring a 100 percent holding in Slottery, a company that operates 10 video lottery terminal (VLT) gaming rooms with a total of 254 gaming machines and a total floor area of 2,057 square meters in Milan and its vicinity.

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Eesti Energia makes good profit in Q3

State owned Estonian energy group Eesti Energia reported a net profit of 42 million euros in the third quarter of 2013.

This is 12 percent more than in the same period a year ago.

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