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Displaying items by tag: Acquires AML

Swedish operator Stena Line has entered into an agreement to acquire 49 percent of the shares in Morocco based ferry company Africa Morocco Link (AML).

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.

“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 for global 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,” says Niclas Mårtensson, CEO at Stena Line.

He continues: “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.”

The agreement is subject to approval by the Moroccan authorities.

Published in Stena Line

About Stena Line

Stena Line is one of Europe's leading ferry companies with 37 vessels and 17 routes in Northern Europe operating 25,000 sailings each year. Stena Line is an important part of the European logistics network and develops new intermodal freight solutions by combining transport by rail, road and sea. Stena Line also plays an important role for tourism in Europe with its extensive passenger operations. The company is family-owned, was founded in 1962 and is headquartered in Gothenburg. Stena Line has 4,300 employees and an annual turnover of 14 billion SEK.