⭐ Start off 2025 with a powerful boost to your portfolio: January’s freshest AI-picked stocksUnlock stocks

Finland power grid operator asks court to seize tanker over cable damage

Published 01/02/2025, 10:29 AM
Updated 01/02/2025, 11:45 AM
© Reuters. FILE PHOTO: Finnish Coast Guard stops a small boat which tried to reach the oil tanker Eagle S anchored near the Kilpilahti port in Porvoo, on the Gulf of Finland December 30, 2024.  Lehtikuva/Jussi Nukari/via REUTERS/File Photo

HELSINKI (Reuters) -Finland's national power grid operator said on Thursday it had asked a Helsinki court to seize the Eagle S oil tanker in a bid to secure the company's claim for damages related to the breakdown of the undersea Estlink 2 electricity interconnector.

The cable between Finland and Estonia was damaged on Dec. 25 along with four telecoms lines, and Finnish authorities the next day boarded the tanker, which carries Russian oil, on suspicion that it caused the damage by dragging its anchor along the seabed.

Baltic Sea nations are on high alert after a string of outages of power cables, telecom links and gas pipelines since Russia invaded Ukraine in 2022. NATO said last week it would boost its presence in the region.

Fingrid said in a statement on Thursday it had asked the Helsinki District Court to formally seize the Eagle S to help secure its financial claim.

"Further investigations at the damage site are expected to provide more information about the extent of the damages and enable more detailed planning and scheduling of the repair," Fingrid said.

The company said last week it expected the cable to come back into service in August this year.

A lawyer representing United Arab Emirates-based Caravella LLC FZ, which owns the ship, did not immediately respond to a request for comment. The owner has previously asked that Finnish authorities release the vessel.

© Reuters. FILE PHOTO: Finnish Coast Guard stops a small boat which tried to reach the oil tanker Eagle S anchored near the Kilpilahti port in Porvoo, on the Gulf of Finland December 30, 2024.  Lehtikuva/Jussi Nukari/via REUTERS/File Photo

Finland's customs service has said it believes the Eagle S is part of a shadow fleet of tankers used to circumvent sanctions on Russian oil, and has formally impounded its cargo although the cargo is still on board the ship.

Moscow has said Finland's seizure of the ship is not a matter for Russia.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.