Stena Line will acquire Latvian company Terrabalt and take over the operation of the RoRo, bulk and general cargo terminal in Liepaja, Latvia’s third-largest port.
The Liepāja Special Economic Zone (SEZ) manages Liepaja Port as part of a free trade zone established in 1997, including the port, industrial area, and airport. Stena Line currently operates the Liepaja–Travemünde route with two vessels.
Niclas Mårtensson, CEO of Stena Line, said: “Our investment in Liepaja means that we continue to be a long-term partner to Latvia and contribute to the further development of the country’s competitiveness and growth.
“We believe in a prosperous future for the Baltic Sea region, where investments in infrastructure and increased cooperation between the countries are key to strengthening trade and resilience throughout the region.”
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Carl-Johan Hellner, COO Ports & Terminals at Stena Line, said: “Trade and supply chain resilience requires a long-term perspective, and in close partnership with the Latvian State, Liepaja Special Economic Zone, and not least our customers, we continue to build for the future.”
Stena Line’s Baltic Sea network also includes services on the Ventspils–Nynäshamn route with two vessels. Since May 2023, Stena Line has also owned the port operations in Ventspils, the country’s second-largest port.
Stena Line operates the Gdynia–Karlskrona route with three vessels and also holds a majority stake in the port operator KBP (Karlskrona Baltic Port).
Stena Line operates the Trelleborg–Rostock route with Sweden’s only two ferries with rail capacity, a key component of rail traffic redundancy and the connection with continental Europe.
“With this acquisition, we strengthen our own position and secure the future conditions for our customers in the region. We look forward to developing the port and its infrastructure for safe and high-quality operations,” Mårtensson concludes.
The acquisition of the port operator is subject to approval by the Latvian competition authority and other institutions. Until approval, the current owners will continue to operate the terminals. The commercial details of the agreement are not disclosed.
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