The Swedish ferry company will acquire all shares in the Liepāja-based port operator, becoming responsible for ro-ro, bulk, and other general cargo handling at Terrabalt's terminal in the Latvian seaport.

"Our investment in Liepāja 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," commented Niclas Mårtensson, CEO of Stena Line.

The company's COO Ports & Terminals, Carl-Johan Hellner, added, "Trade and supply chain resilience requires a long-term perspective, and in close partnership with the Latvian State, Liepāja Special Economic Zone, and not least our customers, we continue to build for the future."

The acquisition needs approval from the Latvian competition authority and other institutions. Until that, the current owners will continue running the business.

Stena Line has been operating the Liepāja-Travemünde ferry service for a number of years, most recently with the sister ships Stena Flavia and Stena Livia (each offering room for 800 passengers and 2,255 lane metres for cargo).

Since May 2023, the Swedish company has also been performing port operations in another Latvian seaport, Ventspils (from which it plies to and from Norvik in Sweden).

Photo: Stena Line