A subsidiary of AS Tallink Grupp, Baltic SF IX Limited and Marine Atlantic Inc, a Canadian company with the state participation therein, have concluded to extend the current charter agreement of MV Atlantic Vision (ex. Superfast IX) for one year, until November 2020, with an option to extend the agreement for an additional two years.…
Estonia’s 2019 economic growth is forecast to fall below 3%, while rapid wage growth is expected to attract growing numbers of foreign labor, according to the latest economic forecast published by Luminor. “Estonia’s strong GDP growth of 3.9% in 2018 is expected to follow a general moderation trend evident in external markets, and fall below…
While no such correlation applies to excise duty on tobacco, increasing the excise duty on alcohol would reduce Estonia’s excise revenue, it appears from the results of an analysis commissioned by the Ministry of Finance and conducted by PricewaterhouseCoopers Advisors (PwC). PwC’s analysis highlights that when making changes to excise duty policy, the state has…
The European Union Aviation Safety Agency’s (EASA) decision to ban Boeing 373 Max aircraft from its airspace will not directly impact Estonian flights. “Not a single Estonian airline uses this type of aircraft,” Kaupo Toodu, director of the Flight Operations Department of the Estonian Civil Aviation Administration (Estonian CAA). Toomas Uibo, director of marketing and…
Enefit Green, the renewables subsidiary of electricity generation company Eesti Energia, has seen a ten-fold increase in its electricity generation, the company reports. Enefit Green produced 124 GWh of electricity from its wind farms in February, ten times more than the previous year and 30% more than the previous month, according to a press release.…
Listed Estonian shipper Tallink Grupp carried a total of 620,006 passengers in February, down by 0.4% YoY. The number of cargo units carried by Tallink ships in February grew by 1.1%, to 29,115, while the number of passenger vehicles decreased by 1.2%, to 66,835, Tallink told the Tallinn Stock Exchange (TSE). The number of passengers…
The Supreme Court of Estonia has dismissed an appeal submitted by the Lithuanian dairy company Zemaitijos Pienas against Estonia’s Estover in the string cheese trademark dispute, leaving Estover the right to sell its products under the name Piknikupulgad (Picnic Sticks). Zemaitijos Pienas, one of Lithuania’s largest dairy companies, first initiated a dispute with Estonian dairy…