Estonia, EU – Baltic States, Legislation, Port, Transport

"We've basically reached agreement with Port of Tallinn and one crew that we'll cut crew wages without laying anyone off, reduce to the minimum the maintenance costs of the ship, move the office of TS Shipping to cheaper rental space and cut our salaries so as to stay competitive until finding work for the summer," managing director of TS Shipping Ulo Eero told BNS.

According to Eero the cutbacks do not mean TS Shipping is prepared for the icebreaker standing idle for another summer. "On the contrary, we've reduced costs but preserved the capability to start work as soon as the opportunity arises," he stated but added that the market of specialized shipping work is at a low all over the world and the prospects of finding profitable work for Botnica are narrow. "Nonetheless, we continue working towards this goal."

The vessel has a contract with Russia's Karmorneftegaz for working in the Kara Sea, which runs until the end of 2017, but the European Union sanctions against Russia prevent it from working there.