Tallink Grupp, the Estonian listed cruise ferry company, says it has sold two 1980s built vessels that have not been used on its srvices in recent times. 

“Tallinn Stockholm Line Ltd., a subsidiary of AS Tallink Grupp has come to an agreement with Scandinavian interest (a non related party) to sell the motor vessel Regina Baltica. The vessel is expected to be delivered by April 2015,’ Tallink said in a statement.

Regina Baltica is of 13,878 gross tons and it was built in 1980. The ship has been chartered out for third parties in the recent past.

Meanwhile, Tallink Swedish Line Ltd., has sold the 1986 built 33,818 gross ton Silja Festival to Bridgemans Services Ltd and I will be delivered to the buyer by April 2015. The buyer is a Canadian company that has used the vessel as accommodation unit on the country’s west coast for some time.

Parties have agreed not to disclose the transaction prices. The transactions will have no major impact to the group operations and consolidated results. “The cash flow from the sale of the vessels will strengthen the group's financial position by supporting dividend payment, investments and repayment of loans,” Tallink said.