Stena Line announced it will acquire all shares in the Latvian port operator Terrabalt, which runs the RoRo, bulk and general cargo terminal in Liepaja, Latvia’s third-largest port.
The Liepaja port is part of the Liepāja Special Economic Zone, a free trade zone established in 1997 that includes the port, an industrial area, and an airport.
Stena Line currently operates the Liepaja–Travemünde route with two vessels. Its Baltic Sea network also includes the Ventspils–Nynäshamn route with two vessels, the Gdynia–Karlskrona route with three vessels, and the Trelleborg–Rostock route with Sweden’s only two ferries equipped with rail capacity. The company also owns the port operations in Ventspils, Latvia’s second-largest port, since May 2023 and holds a majority stake in KBP (Karlskrona Baltic Port).
“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,” said Niclas Mårtensson, CEO of Stena Line.
The acquisition is subject to approval by the Latvian competition authority and other institutions. Until approval, the current owners will continue to operate the terminals. The financial terms of the agreement were not disclosed.
Stena Line is a private limited liability company headquartered in Gothenburg, Sweden. It is part of the family-owned Stena AB Group and operates ferry and port services across Northern Europe and the Mediterranean.
Terrabalt is a Latvian-registered port operator based in Liepaja, Latvia. The company manages cargo handling and terminal operations within the Liepaja port area.