For an undisclosed sum, the Swedish shipping line has acquired the operations of the facility in question in the Latvian seaport.

The acquisition is subject to authority approval for competition compliance.

"The Baltic Sea is a major growth region for Stena Line and our investment in Ventspils shows how committed we are to develop our business with Latvia. With this strategic move we have secured a long-term position in an essential part in our European network and I am looking forward to working with our customers and partners to continue expanding in the region," commented Niclas Mårtensson, Stena Line's CEO.

The shipping company also underlined in a press release, "Direct ownership of the operations in Ventspils will give Stena Line the initiative in future expansion opportunities as Latvia continues to grow its importance as a maritime nation with increasing trade volumes."

The sister ships Stena Baltica and Stena Scandia, each offering room for 970 passengers and 2,875 lane metres for freight, serve the Ventspils service (to and from Nynäshamn).

Photo: Stena Line