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Seatruck sold to CLdN

[ September 26, 2022   //   ]

European freight ferry operator CLdN is to acquire all shares in Irish Sea carrier Seatruck Ferries from its Danish owner, Clipper Group, for an undisclosed sum.

The deal is subject to regulatory approval from the Irish competition authorities, expected before year-end.

Seatruck Ferries carries about a fifth of all Irish Sea freight volume, on routes from Liverpool and Heysham to Dublin and from Heysham to Warrernpoint in Northern Ireland. It owns eight ro ro freight vessels of which six are operating on the Irish Sea and two are chartered out.

CLdN RoRo operates more than 20 vessels offering more than 130 sailings per week between the ports of Zeebrugge, Rotterdam, London, Killingholme, Liverpool, Dublin, Cork, Gothenburg, Esbjerg, Santander and Porto. It also owns a 4,500 trailers and 45ft containers and provides door-to-door logistics services, including European full-load transport, freight forwarding and freight management.

Seatruck Ferries will continue to run under its own brand with the existing management team led by Alistair Eagles. Clipper Group (not to be confused with the UK logistics company of the same name), which has owned Seatruck since 2022, will continue to concentrate on its mainly bulk shipping activities.

CLdN chief executive Florent Maes said: “We are delighted with the agreement, which is in line with our overall strategy of expanding current trades and developing new routes. Seatruck Ferries is an excellent company with a great route network and a strong business model.

“Seatruck will be a valuable addition to CLdN’s comprehensive route network and particularly adds to our presence in the UK and Irish markets. We look forward to welcome our new colleagues to the CLdN team and together develop new opportunities for the wider group.”

Clipper Group chief executive Amrit Peter Kalsi commented: “Given the continued robust performance by Seatruck, we concluded that this was the right time to divest the company. Following a competitive process, we are very pleased to be handing over the baton to a strong, long-term, industrial owner as CLdN.

“We now look forward to focus 100% on our dry cargo core business. With a much stronger balance sheet, we are well positioned to proactively pursue market opportunities.”

Seatruck Ferries said it has shown great resilience through the challenges caused by COVID19 and Brexit,. Operating profit improved in 2021 and earnings are expected to further improve in 2022 as the joint impacts of COVID-19, Brexit and driver shortages are expected to accelerate growth in the unaccompanied trailer sector.

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