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Stena Line to expand outside Europe

[ April 8, 2024   //   ]

Stena Line has signed an agreement to acquire a 49% stake in Africa Morocco Link (AML).

AML is headquartered in Tangier and operates a freight and passenger oute between Tanger Med and Algeciras, Spain. It is also due to launch a  high speed passenger and car-only route between Tangier Ville and Tarifa in summer.

The agreement is subject to approval by the Moroccan authorities.

Stena Line chief executive, Niclas Mårtensson, said: “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.

“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.”

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