June 28, 2024
- Performance in 2023:
- Stena Line had a decent year in terms of volume and customer satisfaction.
- The company faced high costs due to increased salaries, spare parts, and interest rates.
- Brexit did not negatively impact traffic between Ireland and the UK, which remains stable and growing.
- Market Challenges:
- The Baltic Sea region was significantly impacted by the Ukraine war and higher interest rates, affecting macroeconomic activities.
- Competition is intense, with other operators reducing prices.
- Expansion and Investment:
- Stena Line expanded in the Mediterranean by acquiring a 49% stake in African Morocco Link (AML).
- New logistics hubs were established in Liverpool and Dublin, enhancing operations between Ireland and the UK.
- The company is also developing a new port in Immingham, transitioning some services from Killingholme.
- Sustainability Efforts:
- Stena Line continues to explore green fuel options, including methanol and hybrid solutions combining biodiesel and batteries.
- The “Stena Electra” project remains of interest, but its future depends on infrastructure investments in electricity.
- New Ventures:
- Stena Line sees potential in the Morocco-Spain route, emphasizing the strategic importance of Morocco’s infrastructure investments and its role in connecting Europe and Africa.
- Future Outlook:
- Despite market fluctuations, Stena Line is focused on infrastructure investments rather than acquiring customers.
- The company remains adaptable in its approach to fuel and propulsion systems, seeking to balance sustainability with economic feasibility.
Read the full interview in RoPax magazine: PDF
