Swedish shipping giant Stena Line announced on Monday its purchase of a 49% stake in the Moroccan ferry company Africa Morocco Link (AML) as part of its strategic expansion beyond Europe.
AML, based in Tangier, runs a ferry service between Tanger Med and Algeciras, with plans to introduce a new high-speed route between Tangier and Tarifa this summer. The first route caters to both freight and passenger clientele, while the second route will focus on passengers and cars.
“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 traveling 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,” Stena Line CEO Niclas Mårtensson said.
“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,” Mårtensson added.
The agreement is subject to approval by the Moroccan authorities, Stena Line added.
Headquartered in Gothenburg, Stena Line is a prominent European ferry operator with 38 vessels and 18 routes in Northern Europe, facilitating 26,000 sailings annually. The company plays a vital role in the European logistics network and continues to innovate with new intermodal freight solutions that integrate rail, road, and sea transport.