By
Rebecca Gibson |
Spanish infrastructure and energy group Acciona plans to sell its shipping subsidiary Trasmediterranea before the end of the year.
Reports suggest that Trasmediterranea is considered as one of Acciona’s non-strategic assets and will be sold to enable the group to concentrate its business activities in the energy, infrastructure and water industries. Acciona also aims to restructure debts and reduce the negative impact of changes in energy regulations introduced by the Spanish government.
Trasmediterranea has operated passenger and cargo lines in the Mediterranean and to the Canary Islands since it was bought by Acciona in 2000 for €300 million. The operator, which has a fleet of 18 owned vessels and other charter vessels, increased its passenger numbers by 5.6% rise to reach 2.63 million in 2013. Freight traffic also rose by 6% to 5.16 million linear metres last year.
However, the company suffered a 13.4% reduction in passengers and a 17.4% fall in vehicle numbers in the first half of 2014. Despite a 5.9% growth in freight intake, the company’s turnover reduced 1% to €185 million.