After Compagnie de Transports au Maroc, Stena Line joins the Africa Morocco Link ship
The Mediterranean shipping sector is experiencing a new major upheaval with the arrival of a new heavyweight player: Stena Line. The Swedish group, one of the leading European maritime transport operators, announced on Monday, April 8, that it has reached an agreement to acquire 49% of the shares of Africa Morocco Link (AML), a shipping company based in Morocco. This strategic acquisition, following the announcement last week of the takeover by Compagnie de Transports au Maroc (CTM) of Bank Of Africa’s majority stake in AML, marks Stena Line’s entry into the Moroccan market and strengthens its position in maritime transport in the Mediterranean.
The agreement is subject to approval by the Moroccan authorities
The acquisition of AML by Stena Line is subject to approval by the relevant Moroccan authorities. Once the authorizations have been obtained, Stena Line plans to finalize the operation as soon as possible.
This acquisition confirms the attractiveness of the Moroccan market for foreign investors, particularly in the maritime transport sector. It should also contribute to the growth of maritime traffic between Morocco and Europe, thus favoring trade and economic cooperation between the two regions.
AML, a fast-growing player
Created in 2016, AML is a joint venture between Bank of Africa (51%) and the Greek shipowner Attica Holdings SA (49%). The company operates regular ferry services between Tangier Med in Morocco and Algeciras in Spain, thus linking Morocco to Europe. AML plays an important role in the transport of passengers and goods between the two countries, thus contributing to the development of trade and the fluidity of transport in the region. This summer, the company is also expected to launch a new route between Tangier Ville and Tarifa.
The arrival of Stena Line in AML’s capital is promising for both parties. For Stena Line, this operation represents an opportunity for strategic expansion in a fast-growing market like Morocco. The Swedish company will thus be able to benefit from AML’s expertise in maritime transport between Morocco and Europe and its strong relations with local players.
For its part, AML will benefit from Stena Line’s experience and resources to strengthen its market position and develop new services. The integration of AML within the Stena Line network will also allow the Moroccan company to access new markets and reach a wider clientele.
