Stena Line has entered an agreement to acquire 49 per cent of the shares in Morocco-based ferry company Africa Morocco Link (AML).
AML is headquartered in Tangier and operates a ferry route between Tanger Med and Algeciras. This summer, the company will also launch a new high-speed route between Tangier Ville and Tarifa.
The first route is open for freight and travel customers whereas the second one will be a route for passengers and cars.
Niclas Mårtensson, Chief Executive Officer at Stena Line, said the acquisition of shares in AML is in anticipation of a growth in freight volumes along the Strait of Gibraltar in the coming years. Mårtensson remarked the growth is being driven by the continuous development of routes, ports, and surrounding industries.
The agreement between Stena Line and AML is subject to approval by the Moroccan authorities.