CLdN to acquire Seatruck Ferries

CLdN to acquire Seatruck Ferries from Clipper Group

Leading European RoRo ferry operator CLdN has entered into an agreement to acquire all shares in Seatruck Ferries Holding Ltd. from Clipper Group. The parties have agreed not to disclose the transaction price.

With eight purpose-built vessels, Seatruck Ferries is the leading RoRo operator on the Irish Sea, transporting close to 20% of the region’s seaborne cargo volumes. CLdN CEO Florent Maes comments: “We are delighted with the agreement, which is in line with our overall strategy of expanding current trades and developing new routes. Seatruck Ferries is an excellent company with a great route network and a strong business model. Seatruck will be a valuable addition to CLdN’s comprehensive route network and particularly adds to our presence in the UK and Irish markets. We look forward to welcoming our new colleagues to the CLdN team and together develop new opportunities for the wider group.” The divestment of Seatruck Ferries allows Denmark-based Clipper Group to devote all financial and managerial resources to further strengthening its global dry cargo business. Clipper Group CEO Amrit Peter Kalsi comments: “Given the continued robust performance by Seatruck, we concluded that this was the right time to divest the company. Following a competitive process, we are very pleased to be handing over the baton to a strong, long-term, industrial owner as CLdN. “We now look forward to focus 100% on our dry cargo core business. With a much stronger balance sheet, we are well positioned to proactively pursue market opportunities.” CLdN’s contemplated acquisition of Seatruck Ferries is subject to regulatory approval from the Irish competition authorities, expected before year-end. After closing, the Seatruck operation will continue to run under the Seatruck Ferries brand with the existing management team lead by Alistair Eagles. Seatruck Ferries has shown great resilience through the challenges caused by COVID-19 and Brexit, where the company has consolidated its market-leading position on the Irish Sea. Operating profit improved in 2021 and earnings are expected to further improve in 2022 as the joint impacts of COVID-19, Brexit and driver shortages are expected to accelerate growth in the unaccompanied trailer sector.

‘Car-cations’ are booming at Stena Line

Stena Line has seen their travel business bounce back in Britain and Ireland in 2022; figures for the first half of the year show that passenger numbers are back to pre-pandemic levels, while car numbers in particular are far higher than in 2019.

The increase in the number of cars is most striking on the Irish Sea. With the cost of car hire in Ireland being the highest in Europe it is no surprise that people are instead opting to travel by ferry and take their own cars to Belfast, Dublin or Rosslare. However, the level of increase has been higher than expected, with the numbers of passengers taking their cars up almost a third (32%) compared to 2019. While over on the North Sea it is a similarly positive story, with the number of passengers taking their cars on ferries travelling between Harwich and the Hook of Holland at higher levels than all their competitors combined. As well as also beating levels on the popular short-sea routes, as car drivers opt to avoid delays on The Channel by travelling via the North Sea, where cars increased almost 11% on this key arterial route that serves not only The Netherlands, but also Central, Eastern and Northern Europe. Paul Grant, Trade Director for the Irish Sea, says: “Problems in the airline industry, high car hire prices and ongoing concerns over COVID, all seem to be encouraging more and more people to switch to ferries and take their own cars with them on holiday. Ease of check-in, no queues at security, no baggage charges, no car hire costs, the advantage of being able to put your full allowance of Duty Free in your car and drive from door-to-door, all make taking a ‘car-cation’ by ferry an attractive option for travellers.” In recent years Stena Line has invested heavily in its state of the art ferries and offers unrivalled luxury onboard. Its Stena Plus and Hygge Lounges, and range of cabin options, with extensive entertainment packages, allow passengers to travel in comfort and style. With restaurants and cafés, cinemas, games rooms, play areas and newly expanded Duty Free shops, there is always plenty to do onboard.