"Stena Line" to acquire "Terrabalt" and provide port operations in Liepaja
Continuing to promote trade growth and supply chain resilience in the Baltic Sea, the ferry company "Stena Line" will acquire all shares of Liepaja port operator "Terrabalt".
By acquiring the Latvian company Terrabalt, Stena Line takes over the operation of the RoRo, bulk and general cargo terminal in Liepaja, Latvia’s third-largest port. The Liepaja port is managed within the framework of the Liepāja Special Economic Zone (SEZ), a free trade zone established in 1997 that includes the port, industrial area, and airport. Stena Line currently operates the Liepaja–Travemünde route with two vessels.
“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,” says Niclas Mårtensson, CEO of Stena Line.
“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”, says Carl-Johan Hellner, COO Ports & Terminals at Stena Line.
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. The Gdynia–Karlskrona route is operated with three vessels, and the company also holds a majority stake in the port operator KBP (Karlskrona Baltic Port). The Trelleborg–Rostock route is operated with Sweden’s only two ferries with rail capacity, which are an important 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,” Niclas 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 in this communication.
Stena Line:
"Stena Line" is one of the leading ferry companies in Europe, operating around 40 vessels and 20 routes across Northern Europe and the Mediterranean, carrying out 25,700 sailings annually. "Stena Line" is an important part of the European logistics network and develops new intermodal freight solutions by combining rail, road, and sea transport. "Stena Line" also plays a significant role in the European tourism industry, providing extensive passenger transport services. It is a family-owned company founded in 1962, with its headquarters in Gothenburg. "Stena Line" employs 6,200 people, and the company’s annual turnover amounts to SEK 19.5 billion.
