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Tallink Group - Tallink SiljaFraktutvecklingen mellan Norden och Baltikum
Håkan Fagerström, Mari ehamn 16. Maj
Sjöfartens Dag – Maritime Day
Tallink
§ Tallink is the leading European prov ider of leisure and business trav el and sea transportation services in the Baltic Sea
§ Fleet of 19 vessels§ Operating five hotels§ Revenue EUR 944 million§ EUR 1.7 billion asset base§ 6 799 employees§ Over 9 million passengers annually§ Over 270 thousand cargo units annually§ Listed on Nasdaq OMX Baltic – TAL1T
Over 50 years of operating and cruising experience
Highlights and milestones
2002 2003 2004 2005 2006 2007 2008
Newbuilt vessels € 1020 m
Estonia-Finland
Acquisitions € 780 m
2009
Estonia-Sweden
Silja Line
Riga-StockholmSt. Petersburg
Hotel operations
Superfast ferries
Finland-Germany
Finland-Sweden
PP
IPO
P
PPrivate Placement
2010 2011
Romantika
Victoria I
Galaxy
Star
Superstar
Baltic Princess
Baltic Queen
OPERATIONS
2012
Rights issueP
¢ Cargo Units 2012• FIN-EST 136 000• FIN-SWE 84 350• EST-SWE 35 600• LAT-SWE 16 000
• TOTAL 271 950
¢ Depratures 2012 (per day )• FIN-EST 14 (12)• FIN-SWE 8• EST-SWE 3 • LAT-SWE 2
Departure network
-
50 000
100 000
150 000
200 000
250 000
300 000
350 000
1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Competitor 2 Competitor 1 Tallink Silja
Market Trends and Figures (FIN -SWE)Cargo operations – Volumes
0
50 000
100 000
150 000
200 000
250 000
300 000
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Tallink Comp 1 Silja Comp 3 Comp 4
-11%
+28%
Market Trends and Figures (FIN -EST)Cargo operations – Volumes
As the aggregate demand relating to cargo and vehicle traff ic continues to grow faster than passenger traff ic, a problem with insufficient cargo capacity on passenger ships will emerge during this decade.
¢ This will enable the growth of competitive cargo traff ic between Finland and Estonia.
¢ Insufficient cargo capacity on certain popular departures is already a problem.
Market Trends and Figures (FIN -EST)Cargo Traffic
Probable scenario
Max. scenario
Min. scenario
Realised traffic
Market Trends and Figures (FIN -EST)Cargo operations
¢ Central European market is influencing FIN-EST traffic.
¢ HEL-TAL may be a substitute to FIN-GER in the future -> MarPol 2015
¢ Development of RAIL BALTICA will have a major impact on HEL-TAL route
¢ Development of scheduled HUCKEPACK rail-line Southern Sweden – Stockholm will gain new possibilities for UK traffic.
Market Trends and FiguresOur concept – Combine Passanger + CargoEstimate of consquences when separating Passanger and Cargo
Combining Passenger + Cargo -> an environmentally friendly option§ Strengths§ Possibility to provide extensive amount of departures -> financial result not 100% dependent of cargo.§ Reliable network and timetables§ Environmentally beneficial -> sharing the emission between passengers and cargo makes the transport mode
very environmental friendly compared to pure cargo operations.
§ Weaknesses§ Capacity fluctuation because of seasonal changes on passengers market.§ Limited possibilities to transport Dangerous Goods
§ Conclusion§ Separating cargo from passenger liners ex. on HEL-TAL would cause following:§ Additional CAPEX abt. 250m€ (3 RO-PAX)§ Additional OPEX abt. 80m€/annually§ Annual carbon dioxide emissions would increase by approx. 100,000 t
annually (cf. HRT's annual emissions of 103,000 t).§ At the time being, this would cause increased freight rates on both passenger as well as on cargo side!
Cargo Traffic visions
¢ Possible market threats..• MarPol Annex VI
• Major impact on the traf fic within the Baltic• Via Baltica's influence on the market will grow dramatically
• Possible additional emission charges for Road Traffic• Lack of trucks and driv ers (insufficient fleet)• Need to separate Cargo and Passengers
• aggregate demand for CARGO capacity grows faster than passenger traf fic.• get “cargo only” ferry-line feasible on this market area -> imminent need to raise freight
rates• Restrictions for growth (Political Decisions)
¢ Possible market opportunities …• Rail Baltica ’s impact on Helsinki – Tallinn• Growing traffic -> better deck utilization