City takes back Viking’s Turku terminal

2021-09-10T21:23:05+00:00 September 10th, 2021|Ports|

The City of Turku has taken back under its control the terminal previously operated by Viking Line.

This terminal and related facilities are located in an area in Turku leased by Viking Line.

Under the original lease agreement, the buildings were to be handed backed on 31st December, 2025, but since the Port of Turku decided to begin a major refurbishment of the port and its facilities, the City of Turku has now redeemed the properties.

This move entailed an accounting profit of €13.5 mill for Viking Line and strengthens the company’s liquidity by €7.9 mill, it said.

Viking Line has also entered into a 10-year traffic agreement with the Port of Turku on market terms and has further leased the terminal and related facilities until 31st December, 2025, thus it will continue to use the current terminal and facilities in Turku.