Romantika Cruise Ship Hired by Tallink for Voyage to Algeria
Cruise Ship Romantika Chartered by Algerian State-Owned Company
The Estonian shipping company Tallink Grupp has entered into a charter agreement with Algeria's state-owned Madar Maritime Company for the cruise ship Romantika. According to Paavo Noņgene, CEO of Tallink Grupp, this deal will positively impact the company's financial results.
Noņgene stated, "Our close monitoring of economic developments has shown us the capacity to adapt and seize opportunities in an ever-changing environment, as evidenced by this charter agreement for Romantika."
The nine-month charter, which begins on May 31, includes an option for two additional six-month extensions, potentially extending the charter period beyond the initial nine months.
Previously, Romantika operated on routes servicing Helsinki, Stockholm, and Riga in the Baltic Sea. Built in Finland in 2002, it was Tallink's first vessel commissioned and the first built specifically for an Estonian shipping company.
In addition, Tallink has extended the charter agreement for the cruise ferry Silja Europa in the Netherlands until January 31, 2026, with the option for two additional six-month periods. Another Tallink vessel, Galaxy, is already under charter in the Netherlands.
Under Madar Maritime, Romantika will now serve new routes connecting Spain and Algeria, specifically from Alicante and Almería in Spain to Oran and Mostaganem in Algeria. This marks a significant shift from its former Baltic operations to the western Mediterranean region, reflecting Tallink's strategic move to address increased demand in the Algeria-Spain corridor.
The charter agreement of Romantika with Madar Maritime, an Algerian state-owned company, indicates Tallink Grupp's presence in the Algeria-Spain corridor, signifying a strategic transition from the Baltic Sea operations in the transportation industry. This move, aimed at catering to the increased demand, might also bring financial gains for Tallink Grupp within the broader scope of the ever-changing environment and financial landscape.
