Tallink Grupp completes sale of company vessel Isabelle

In early April 2023 Tallink Grupp’s subsidiaries AS Tallink Latvija and Hansalink Ltd signed a contract with Canadian enterprise Bridgemans Floatel Limited Partnership for a multi-year charter of the company’s vessel Isabelle with a purchase option. 

This transaction has been completed whereby Bridgemans has exercised this purchase option, and, as a result, the group’s Cyprus-based subsidiary, Notamare Shipping Company Limited, has acquired the vessel from Tallink Grupp.

The Latvian-flagged Isabelle, formerly operating on the company’s Riga-Stockholm route before the Covid pandemic has been chartered to Bridgemans Floatel Limited Partnership since 1 July 2023 and left Tallinn for Canada in December 2023 after an extensive retrofit of the vessel. The vessel arrived in Canada in early January 2024 and joins a long list of floatels (floating hotels) that Bridgemans has retrofitted, deployed and operated around the world to serve major industrial and resource projects. These floatels are largely self-contained and fully equipped for safe, secure, and comfortable long-term accommodation.

Commenting on the sale of the vessel, Tallink Grupp’s CEO Paavo Nõgene said:

“We are pleased that after nearly 11 years as part of the Tallink Grupp fleet and at the respectable age of 35, Isabelle will now continue to offer a valuable and much-needed service, like the one she was able to offer here in Tallinn to the Ukrainian war refugees – safe accommodation – albeit this time to workers of major global industrial and resource projects.

“Tallink Grupp has a long-standing history and cooperation with Bridgemans, dating back over a decade, so we are pleased Isabelle is in trustworthy hands and know that she will be looked after well by the new vessel owners.”

The sale will have a positive impact on Tallink Grupp’s 2024 financial results.