AS Tallink Grupp Statistics for August 2023

By | 2023 Newsletter week 36 | No Comments

In August 2023 AS Tallink Grupp transported

576,455 passengers, which is a 4.4% decrease compared to August 2022.

The number of cargo units decreased by 26.0% to 26,281 units and the number of passenger vehicles by 2.6% to 86,794 units year-on-year.

FINLAND – SWEDEN (Helsinki-Stockholm and Turku-Stockholm)

The cruise ferry GALAXY I stopped operating on the Turku-Stockholm route in September 2022 due to a charter contract.

ESTONIA – FINLAND (Shuttle services of MYSTAR and MEGASTAR)

The cruise ferry SILJA EUROPA stopped operating on the Tallinn-Helsinki route in August 2022 due to a charter contract.

ESTONIA – SWEDEN (Tallinn-Stockholm and Paldiski-Kapellskär)

Tallink Grupp adds VICTORIA I to Tallinn-Helsinki route from 12 October 2023

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Tallink Grupp announced that it will bring back the popular cruise service to the Tallinn-Helsinki route and the company’s vessel VICTORIA I will start operating on the popular route between the two Nordic capitals from Thursday, 12 October 2023.

This means that the company is increasing its daily departures between the two capital cities again to pre-pandemic levels, offering 14 departures between Tallinn and Helsinki daily.

„Passenger numbers on the Tallinn-Helsinki route have shown steady growth and customer demand is there for the cruise product to return, so I am pleased that we are able to meet that demand.”

Paavo Nõgene, CEO of Tallink Grupp

Tallink Grupp swings back into profit in Q2, 2023

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Tallink Grupp’s Q2 (April- June) financial results are revealing a swing back into profit following the minor loss in Q1.


  • -0.7% passengers 1,541,081 (1,552,174 in Q2 2022)
  • -22% cargo units 85,359 (109,380 in Q2 2022).
  • The reason for the decline: less vessels, operating 18% less trips across the routes, thus reducing the overall route capacity.
  • +11.5% revenue EUR 229.7 million (EUR 206.0 million in Q2 2022).
  • +138.7% EBITDA EUR 68.5 million (EUR 28.7 million in Q2 2022).
  • The strong effort and positive results in many areas have resulted in a net profit of EUR 33.4 million (net loss of EUR 0.7 million in Q2 2022).


The strong results of Q2 mean that the company has delivered a profitable first half year for the first time since 2015.

  • +14% pax 2,590,858 (2,272,435 in H1 2022).
  • -18.8% cargo units 172,091 (211,318 in H1 2022).
  • In addition to fewer vessels in regular traffic in 2023 due to charters, there is one cargo vessel less operating on the company’s routes as the vessel SEA WIND was sold in spring 2022.
  • +28.4% Revenue EUR 400.9 million (EUR 312.2 million in H1 2022).
  • +439% EBITDA EUR 95.6 million (EUR 17.7 million in H1 2022).
  • Net profit at the end of H1 2023 was EUR 28.0 million (EUR 40.7 million net loss at the end of H1 2022).

Commenting on the results of the first half year of 2023, Tallink Grupp’s CEO Paavo Nõgene said:

“The results of the first half of 2023 are proof that the decisions we have made over the last few years to speed up our recovery following the Covid crisis with vessel charters, were the right ones. The positive impact of the vessel charters is undeniable, especially at this time when the increased cost of living is still putting pressure on people’s travelling choices. Our current strategy to operate our regular routes with the most optimal number of vessels and charter out other vessels, is helping us on our road to recovery.”

“Our focus now is on maintaining profitability into the next two quarters of 2023 while continuing to reduce our debts accumulated over the crisis periods. The vessels we currently have operating on our four core routes are performing well with some room for growth should passenger numbers from further afield than our home markets see some increases in the year or so ahead. The short-term plan is to continue operating with the same business model of the last few years, with a mix of regular traffic and charter contracts, until such time when demand on our current key routes or elsewhere increases and warrants additional capacity.”

The Port of Odense and Fayard are expanding their collaboration with a new 30-year agreement

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Fayard A/S and Odense Havn A/S have per 1 July 2023 entered into an agreement on the extension of Fayard’s involvement in the Port of Odense. The parties have entered into a 30-year non-cancellable lease agreement, in which Fayard has secured the right to dispose of the unique shipyard facilities at the Port of Odense for the next three decades.

Fayard is one of Northern Europe’s largest repair yards and services, among other things, container ships, passenger ferries, tankers, military vessels and a large number of other ships. Fayard has a central position in the green transformation of shipping in relation to energy optimization of ships as well as upgrades and retrofits of the existing world fleet

Tallink Grupp statistics for June 2023 and Q2 2023

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In June 2023:

-1.3% passengers, driven mostly due to chartering of vessels (less capacity)

-24.9% freight units

+5.1% passenger vehicles

In Q2 2023 (April-June)

-0.7% passengers: the decrease was driven mostly due to chartering of vessels including SILJA EUROPA and GALAXY I that transported more than 250,000 passengers Q2 of 2022.

-22.0% freight units

+5.0% passenger vehicles


  • The second quarter Finland-Sweden results reflect the operation of the Helsinki-Stockholm and the Turku-Kapellskär route. The cruise ferry GALAXY I stopped operating on the Turku-Stockholm route in September 2022 due to a charter contract.


  • The second quarter Estonia-Finland results reflect operations of shuttle services of MYSTAR and
  • The cruise ferry SILJA EUROPA stopped operating on the Tallinn-Helsinki route in August 2022 due to a charter contract.
  • The shuttle vessel STAR has been chartered out since 5 May 2023 and is operating under the OSCAR WILDE name between Ireland and the United Kingdom.
  • The cargo vessel SEA WIND was sold in April 2022.


  • The second quarter Estonia-Sweden results reflect the operations of the Tallinn-Stockholm and the Paldiski-Kapellskär route by one cruise ferry and two cargo vessels.

Tallink Grupp teams with ABB to achieve environmental goals

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Tallink Grupp is the first Estonian company to join international technology giant ABB’s global sustainability movement, Energy Efficiency Movement, the aim of which is to enhance environmental protection through increased energy efficiency and emissions reduction projects and activities.

Read more here.

Photo (left to right): Jukka Patrikainen, ABB and Captain Tarvi-Carlos Tuulik, Tallink Grupp

Tallink Grupp delivers a strong Q1

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In short: solid performance during the quarter that has historically been the most challenging for the group due to travelling low season. (unaudited)

  • +45.7% pax
  • -9% cargo units
  • +61.3% consolidated revenue or EUR 171.2 million.
  • EBITDA  has seen a huge swing back into the positive compared to the last few years, reaching EUR 27.1 million in Q1 2023 (EUR –11 million in Q1 2022).
  • Net loss for the period was EUR 5.4 million (net loss of EUR 40.0 million in Q1 2022).

The following operational factors impacted the Group’s revenue and operating results in Q1 of 2023:

  • Growing demand for travelling supported by improving consumer confidence levels in all Group’s core markets.
  • Ongoing war in Ukraine continues to impact the demand.
  • During the quarter the Group operated 15 vessels including 3 shuttle vessels, 2 cargo vessels, 4 cruise ferries and 6 vessels that were chartered out (2 vessels on long-term and 4 vessels on short-term charter).
  • The Group operated 3 hotels in Tallinn while the hotel in Riga remained closed since October 2020.
  • Planned maintenance works totalled 45 days which affected the Finland-Sweden segment’s first quarter passenger and cargo levels as well as the financial result.
  • The Group continues to focus on cost savings from previously implemented measures and achieving profitable operations on its core routes.
  • The Group regularly monitors the developments on its core routes including the capacity of each route and continues to look for chartering options for vessels not used on the main routes.

Tallink Grupp signs two long-term charter agreements

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Vessel: STAR

Chartered to: Irish Continental Group / Irish Ferries

As OSCAR WILDE she will enter service on the Rosslare / Pembroke route in early June 2023, replacing the chartered BLUE STAR 1.

The charter agreement has been signed for 20 months with the possibility to extend the charter by 2+2 years and purchase option.


Chartered to Bridgemans Floatel LP/Bridgemans Services Group LP

The ferry is currently housing Ukrainian refugees in Tallinn since April 2022 as part of a charter agreement with the Estonian government. She will be chartered to Bridgemans from 1 July 2023 as accommodation vessel in Canada.

Overview of Tallink vessels chartered out

“Chartering of Tallink vessels has been and will continue to be an important part of business model,” said CEO Paavo Nõgen.

  • continuing economic uncertainties
  • low consumer confidence
  • significant pressure of increasing costs, such as the pay increases resulting from the recently signed new collective agreement
  • the slower than expected recovery of the passenger numbers
  • reduced demand

Tallink Grupp publishes 2023 March and Q1 statistics

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  • Increase in passenger numbers, but a decrease in carried cargo units.
  • Passenger numbers increased the most on the Tallinn-Stockholm route by 77% compared to Q1 2022 when BALTIC QUEEN operations were temporarily suspended due to travel restrictions, and on the Tallinn-Helsinki route by nearly 47% with greater route capacity this year with three shuttles operating on the route during the quarter.
  • The number of cargo units transported decreased compared to last year due to several of the company’s vessels being chartered out.
  • The most significant reduction in carried cargo units is evident on the Finland-Sweden routes and is the result of the chartering out of the company’s Turku-Stockholm route vessel GALAXY and the technical dockings of the company’s Finland-Sweden routes’ vessels SILJA SERENADE, SILJA SYMPHONY and BALTIC PRINCESS all during Q1 2023.

Tallink Grupp Audited Annual Report of the 2022 Financial Year

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Tallink published its annual report, audited.

Ferry Shipping News presented the unaudited version on 24 February 2023. [link]


  • Rebuild and recovery of core routes between Estonia, Finland and Sweden, and ensuring an optimal growth of these core routes in the future.
  • Pay close attention to the passenger numbers and occupancy levels of the ships in regular traffic. Changes in operations if there is a clear need to do so.
  • Monitor the need for short- and long-term vessel chartering and, if the timing and opportunity are right, carry on with the successful chartering projects, which have helped Tallink to keep its nose above water during the COVID-19 years and thereafter.
  • Stronger focus than ever before on sustainability. New environmental regulations and directives, such as the Corporate Sustainability Reporting Directive (CSRD) and amendments to the EU Emissions Trading System (ETS) taking effect in the very near future.