Danish shipping and logistics company DFDS’ acquisition of the freight and passenger route (Ro-Pax) between Paldiski in Estonia and Hanko in Finland has been approved by the Estonian authority.
The transaction is expected to be completed with effect as of October 1, 2016, according to the company.
The announcement comes on the back of an agreement signed at the beginning of September between DFDS and the Estonian company Navirail OÜ to take over the company’s Ro-Pax route between Paldiski and Hanko.
The agreement includes a four-year time-charter agreement for one Ro-Pax ship and an earn-out agreement.
The route expands DFDS’ network in the northern part of the Baltic Sea and complements the company’s existing route between Paldiski and Kapellskär that was acquired in 2011.
The route is operated by the Ro-Pax vessel Sailor, which has a maximum annual capacity of 1.15 million lane metres freight and 100,000 passengers.