Displaying items by tag: Stena AB

15th April 2011

Irish Authorities Approve Stena / DFDS Merger

The €40m acquisition of DFDS Seaways by Stena AB through its subsidiary Stena Line (UK) Ltd last December has been approved by the Irish regulatory authority, though its UK counterpart awaits a decision, writes Jehan Ashmore.

The Irish Competition Authority's clearance of the proposed transaction sees Stena Line (UK) Ltd acquire the sole control of vessels, related assets, inventory, employees and contracts relating to passenger and freight ferry services operated by DFDS A/S.

Of the two services, the Belfast-Liverpool (Birkenhead) is for passengers and freight while the and Belfast-Heysham port route is exclusively for freight-only users. To read more about the decision from the authority click here.

In February the UK's Office of Fair Trading (OFT) referred Stena AB's acquisition from DFDS A/S to the Competition Commission, conclusions on the report are not expected to be made until 25 July. To read more about the merger click here.

In the meantime the Belfast-Liverpool (Birkenhead) route continues trading under the name of Stena Line Irish Sea Ferries Ltd which is separately operated to Stena Line's other Irish Sea routes.

Sailings on the 8-hour route are run by the Italian built 27,510 tonnes ro-pax twins Lagan Seaways and Mersey Seaways which have been in service since the newbuilds were launched in 2005.

As the acquisition remains subject to regulatory clearance, passengers intending to travel on the route can continue to make bookings through the DFDS Seaways website by logging onto this link.

In addition the acquisition involved the sale of the South Korean built freight-ferries Hibernia Seaways and Scotia Seaways which operate Belfast-Heysham sailings.

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About Marine Technology

Marine technology, as defined by the European association WEGEMT, refers to the use of technology for ensuring the safe use, exploitation, protection of, and intervention in, the marine environment. This includes a wide range of technologies that support naval architecture, marine engineering, ship design, ship building, and ship operations.

In addition to these foundational technologies, marine technology also encompasses oil and gas exploration, exploitation, and production, hydrodynamics, navigation, sea surface and sub-surface support, underwater technology and engineering, marine resources (including both renewable and non-renewable marine resources), transport logistics and economics, inland, coastal, short sea and deep sea shipping, protection of the marine environment, and leisure and safety.

The importance of marine technology cannot be overstated. With over 70% of the earth's surface covered by water, the marine environment plays a critical role in our lives. From transportation to energy production, marine technology enables us to harness the immense potential of the oceans while minimizing the impact on the environment.

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In Ireland, claims are made that the island country "has the potential to be the “Silicon Valley” of the aquatech world". Ireland is at a very exciting stage when it comes to aquatech. There are currently 62 aquatech companies operating here, all using technology to enable sustainable seafood farming at a time when the sector is facing many challenges.”

Ireland’s growing expertise in the developing aquatech sector means it has the potential to become a global leader in the field, with Irish aquatech companies turning over €200m last year.

Over €15m has been invested in aquatic businesses, and over 200 high-tech jobs have been created in the sector over the last six years.

In conclusion, marine technology is a vast and rapidly evolving field encompassing a broad range of technologies and applications. As we continue to explore and exploit the potential of the oceans, marine technology will play an increasingly important role in ensuring the safe and sustainable use of these resources.