TLG Hotell OU, subsidiary of the publicly-listed Estonian shipping group Tallink Grupp, has commenced expansion and refurbishment work to the Tallink Spa & Conference Hotel and Tallink Express Hotel at Sadama 9, in the immediate vicinity of passenger ferry terminal A. A fifth level is to be added to the Tallink Express Hotel (“the express…
The assets of Versobank, currently under liquidation, exceed its known liabilities, and all bank deposits will be compensated in full, the bank’s liquidators said. To date, over EUR 177 million have been paid out to the depositors. “In June and ahead of the due date, we decided to compensate to all customers the deposits and…
According to information released by Statistics Estonia on August 9, in June the exports of goods increased by 17% and imports by 18% YoY. The growth in trade was affected the most by increased trade in mineral products. In the first half of 2018 the exports of goods increased by 10% and imports by 8%.…
According to Transaviabaltika, the airline serving flights between the Western Estonian islands of Saaremaa and Hiiumaa and the mainland, the average load factor of flights on the Kuressaare route was over 90%, while the load factor exceeded 60% on the Kardla route. According to airline spokesperson Rene Must, last month’s hot summer weather and a…
The queue for the ferry connecting Saaremaa to the Estonian mainland via the smaller island of Muhu stretched to nearly a kilometer in length approaching Kuivastu, with wait times reaching up to three hours. Since the beginning of June ferry operator TS Laevad served the highest number of passengers and vehicles on July 20-22, transporting…
Consolis Group, a holding of US investment company Bain Capital, announced on August 6 the signing of a purchase agreement with Estonia’s TMB Group, a producer of concrete elements in the Baltic countries and Finland. The transaction will be subject to regulatory approvals. The closing of the transaction is expected by early 2019, TMB and…
A total of 1,223,901 passengers traveled aboard Tallink Grupp-owned vessels in July, indicating a 1.3% increase YoY, as well as setting a new all-time record for number of passengers transported in one month. In addition to the increase in the number of passengers in July, the number of cargo units transported by the group and…