One of Europe's largest ferry companies, Scandlines, has finalised the sale of its freight-based network to Swedish Orient Line (SOL) for an undisclosed sum as part of its corporate restructuring that will see the Danish company focus on the passenger ferry business.
Central to the divestment and re-focusing plan, SOL will take over Scandlines' Rostock, Germany to Hanko, Finland route, on September 1, on which the freight ships the M/F Merchant, the M/F Aurora and the M/F Urd will operate.
"We are a small sized but highly efficient and a fast-growing shipping company. This acquisition means that we increase our presence in the Baltic Sea and expand our offerings to our freight customers," said SOL chief executive Michael Kjellberg.
Said Scandlines' CEO Soren Poulsgaard Jensen: "The sale of our freight based network makes good sense financially and structurally."