Tallink Grupp completes sale of company vessel Isabelle to Cyprus-based Notamare Shipping Company Limited

Tallink Grupp completes sale of company vessel Isabelle to Cyprus-based Notamare Shipping Company Limited

In early April 2023 Tallink Grupp's subsidiaries AS Tallink Latvija and Hansalink Ltd signed a contract with Canadian enterprise Bridgemans Floatel Limited Partnership for a multi-year charter of the company's vessel Isabelle with a purchase option. Today, a transaction has been completed whereby Bridgemans has exercised this purchase option, and, as a result, the group's Cyprus-based subsidiary, Notamare Shipping Company Limited, has acquired the vessel from Tallink Grupp.

The Latvian-flagged Isabelle, formerly operating on the company's Riga-Stockholm route before the Covid pandemic has been chartered to Bridgemans Floatel Limited Partnership since 1 July 2023 and left Tallinn for Canada in December 2023 after an extensive retrofit of the vessel. The vessel arrived in Canada in early January 2024 and joins a long list of floatels (floating hotels) that Bridgemans has retrofitted, deployed and operated around the world to serve major industrial and resource projects. These floatels are largely self-contained and fully equipped for safe, secure, and comfortable long-term accommodation.

Commenting on the sale of the vessel, Tallink Grupp's CEO Paavo Nõgene said:

"We are pleased that after nearly 11 years as part of the Tallink Grupp fleet and at the respectable age of 35, Isabelle will now continue to offer a valuable and much-needed service, like the one she was able to offer here in Tallinn to the Ukrainian war refugees - safe accommodation - albeit this time to workers of major global industrial and resource projects.

"Tallink Grupp has a long-standing history and cooperation with Bridgemans, dating back over a decade, so we are pleased Isabelle is in trustworthy hands and know that she will be looked after well by the new vessel owners."

The sale will have a positive impact on Tallink Grupp's 2024 financial results.

Photo attached: Isabelle, credit Tallink Grupp.

For more information, please contact:

Ms Katri Link
Head of Group Communications and ESG
Tallink Grupp
Phone: +372 5304 2121
E-mail: [email protected]

Tallink Grupp
AS Tallink Grupp is one of the leading providers of passenger and cargo transport services in the northern Baltic Sea region. The company's fleet consists of 14 vessels and the company operates various routes under the brands of Tallink Silja Line and Tallink Shuttle. Tallink Grupp's shares are listed on the Nasdaq Tallinn Stock Exchange and Nasdaq Helsinki Stock Exchange.
www.tallink.com