Renewal of the Port of Tallinn strategy
The Supervisory Board of AS Tallinna Sadam (Port of Tallinn) approved the company's strategy for the next 5 years. The main focus of the strategy is the implementation of the company's vision - to become the most innovative port in the Baltic Sea; meeting owners' expectations and dividend policy; and ensuring a high business culture and sustainable development.
An important complement to the strategy is the deeper integration of the principles of sustainable development and long-term goals into three areas - the environment, the economy and social responsibility. A summary of the strategy is available on the company's website.
The most important goal in the environment field of sustainable development is to achieve climate neutrality by 2050. The first step was to map the ecological footprint of the Port of Tallinn Group, i.e. greenhouse gas (GHG) emissions in the company's harbours and ships, based on 2019 data. In the harbours of the Port of Tallinn in 2019 (incl. activities of tenants and operators, ship calls, transport), GHG emissions were 97 thousand tons of CO2 equivalent, of which 53% were emissions from ship calls. The GHG emissions of the companies of the Port of Tallinn Group without third parties were 27 thousand tons of CO2 equivalent, most of which is related to ferries sailing between the Estonian mainland and the islands. In addition to assessing the volume of GHG emissions, measures imposing a significant impact were developed, through the implementation of which it is possible to reduce GHG emissions in the Port of Tallinn. Many of them are already partially in use or under development – on-shore power supply for passenger ships in the Old City Harbour, use of renewable energy, incentives for port charges for environmentally friendly ships, introduction of economical hybrid solutions in mainland-island ferry traffic and preparations for its transition of to complete renewable energy solutions, etc.
Tallinna Sadam is one of the largest cargo- and passenger port complexes in the Baltic Sea region, which in 2019 serviced 10.64 million passengers and 19.9 million tons of cargo. In addition to passenger and freight services, Tallinna Sadam group also operates in shipping business via its subsidiaries – OÜ TS Laevad provides ferry services between the Estonian mainland and the largest islands, and OÜ TS Shipping charters its multifunctional vessel Botnica for icebreaking and construction services in Estonia and offshore projects abroad. Tallinna Sadam group is also a shareholder of an associate AS Green Marine, which provides waste management services. According to audited financial results, Tallinna Sadam group’s sales in 2019 totaled EUR 130.5 million, adjusted EBITDA EUR 74.3 million and net profit EUR 44.4 million.
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