Stena Line is lining up an expansion into Africa, which would mark the Swedish ferry giant’s first foray outside the European market.
The Gothenburg-headquartered company has reached agreement to acquire a 49% stake of Morocco-based ferry company Africa Morocco Link (AML).
Currently, Stena Line serves the three Scandinavian countries, Finland, Poland, Germany, France, the Netherlands, the UK and Ireland.
AML is headquartered in Tangier operating a ferry route between Tanger Med – Algeciras, Spain.
This summer the company will also launch a new highspeed route between Tangier Ville and Tarifa. The first route is open for freight and travel customers. The second one will be a route for passengers and cars.
Stena Line chief executive Niclas Mårtensson, said: “We are always looking to secure new business opportunities that will make us last and be resilient in the long run. The strait of Gibraltar is a strategic location for passengers travelling between Africa and Europe as well as forglobal trade, and freight volumes in the area are expected to grow in the upcoming years due to the positive industrial growth and international trade in Morocco.”
“These routes, their ports, and the surrounding industries are under development and expected to drive a healthy freight market growth in the coming ten years. It’s a very exciting area to be able to operate in.”
