AS Tallink Grupp : Tallink Grupp signs long-term charter agreement for company vessel Star

Tallink Grupp signs long-term charter agreement for company vessel Star Thu, 06 Apr 2023 14:30:00 +0300

Tallink Grupp has today signed an agreement with Irish Continental Group plc for the long-term charter of the company's shuttle vessel Star. The vessel will be chartered out for 20 months with the possibility to extend the charter by 2+2 years and with a purchase option. The agreement is for a bareboat charter, meaning the vessel will be chartered out without Tallink Grupp's crew.

The Estonia-flagged shuttle vessel Star, launched on the Tallinn-Helsinki route in 2007 and operating on the route ever since, was a game-changer on the Estonia-Finland route and a pioneer of this type of vessel on the Baltic Sea. For more than a decade she has been operating on the Tallinn-Helsinki route in tandem with the company's next shuttle vessels Superstar, Megastar and MyStar. Ever since the arrival of the company's newest shuttle, MyStar, last December, she has been providing a shuttle light concept service between the Nordic capitals of Tallinn and Helsinki, with reduced daily departures and slightly reduced services on board.

Star is chartered to Irish Continental Group plc from 5 May 2023 and is expected to start providing transport services between Ireland and the United Kingdom.

Commenting on the charter agreement, Tallink Grupp's CEO Paavo Nõgene said:
"We have been looking for alternative work for our vessel Star for some time now, and the search became more focused as the arrival of our new shuttle MyStar drew closer last year. There has been great interest in chartering her over the years and I am pleased we have secured a good agreement for her now with Irish Continental Group plc. This type of alternative work for our vessels has been and continues to be a good solution, strengthening our company and bolstering income following a long crisis period."

Star's last departure this spring will take place from Helsinki to Tallinn on the evening of 1 May 2023. Passengers who have purchased tickets for Star for departures after 1 May, will be contacted and offered alternative travel options on the company's other vessels.

For more information to the media, please contact:

Katri Link
Communications Director
Tallink Grupp
Tel. [phone]
E-mail: [e-mail]

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 15 vessels and the company operates various routes under the brands of Tallink and Silja Line. Tallink Grupp's shares are listed on the Nasdaq Tallinn Stock Exchange and Nasdaq Helsinki Stock Exchange.