By
Laura Hyde |
Ferry operator Stena Line is to expand its operations outside of Europe by acquiring a 49 per cent share in Morocco-based ferry company Africa Morocco Link (AML).
AML, which is headquartered in Tangier, operates a freight ferry route between Tanger Med in Morocco to Algeciras in southern Spain. This summer, the company is to launch a new high-speed passenger and car ferry service between Tangier Ville in Morocco and Tarifa, on the southernmost end of the Iberian Peninsula in Spain.
“We are always looking to secure new business opportunities that will make us resilient in the long run,” said Niclas Mårtensson, CEO at Stena Line, which currently operates 26,000 sailings on European routes each year. “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. These routes, their ports and the surrounding industries are under development and expected to drive healthy freight market growth in the coming 10 years. It’s a very exciting area to be able to operate in.”
The agreement between the two companies is subject to approval by the Moroccan authorities.