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AS Tallinna Sadam and PK Terminal OÜ sign co-operation agreement

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Dry Bulk,

On 12 June, AS Tallinna Sadam signed a co-operation agreement and a building title agreement with PK Terminal OÜ for the development of a dry bulk and general cargo terminal in Muuga Harbour, which deals with the handling and storage of round timber, wood pellets, metal products and crushed stone.

With the agreements, PK Terminal took over the using rights of the two quays and their hinterland area used in the former steel sheet galvanising plant, and in addition the Koorma 2 real estate. The total area of the dry bulk and general cargo terminal development is 4.4 ha. The agreements are signed for a period of 20 years, with the option to prolong for another 15 years.

The planned capacity of the terminal is up to 500 000 tpy, which is scheduled to be achieved in the next three years. For Tallinna Sadam the establishment of a new terminal means additional revenue from port dues related to extra vessel calls and additional charges for handling cargo and the use of land. Estimated revenue from the agreements amounts to €14.6 million in total over 20 years.

PK Terminal is part of the Palgard Crane Group, which operates in Sweden and the Baltic States, whose main activities are loading and unloading and transport of materials in ports, warehouses and terminals. PK Terminal, who has previously been engaged in dry bulk warehousing and transportation in the port of Kunda, will bring modern technology and superstructure to the new terminal in Muuga Harbour, investing over €5 million in the development of the terminal, taking into use new modern loading equipment.

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Dry cargo shipping news Dry bulk shipping market