Polferries was supposed to be sold to a foreign ferry group, but both the Polish marine sector and the representatives of the regional authorities opposed the solution. In response, Polsteam (PŻM) – the most important Polish ship owner and the proprietor of Unity Line ferry lines - proposed the State Treasury Ministry that it should be merged with Polferries.   

 

“This must be seen as the first step on the path to consolidating the Polish ferry sector. The group incorporating PŻB and Unity Line will become an undisputed leader of the Baltic ferry transportation.   The Polish seafaring companies – when working in unison rather than separately - will be able to make the most of the market potential”, says Rafał Baniak, the Undersecretary of State at the Ministry of the State Treasury. “PŻB and PŻM declare that they intend to work on the corporate, operational and financial spheres. However, in order to build PGP, a strong investor is needed to provide capital and finance PGP’s operations.  Polish Investments for Development is an ideal candidate for this post, because it will afford PGP an opportunity for growth and ensure that the Group will not go to a foreign owner. Hence, PIR has co-signed the letter of intent. 

 

PŻB employs circa 400 sailors, whereas Unity Line – which will also become a part of PGP – about 500 of offshore workers. In addition, both companies together have 250 staff filling various positions onshore. Initially the Group will dispose of 10 ferries.  PGP’s business strategy to be followed by PGP will primarily focus on fleet modernization, namely purchasing or building new vessels and optimisation of tonnage on individual lines. If the decision to build new ferries gains approval, they will be constructed by a Polish shipyard.  The estimated costs of building a ferry equal EUR 120-150 million. Thus, a venture of this kind would ensure work for hundreds of people.

 

The most profitable routes are those between Świnoujście and Ystad (for Unity Line and PŻB) and Świnoujście - Trelleborg (Unity Line). – the value is measured by the cargo (trucks, trailers, rail carriages) transportation growth dynamics,  both now and until 2020 (approx. 8-10 percent per annum). 

 

The State Treasury owns all Polferries’ shares in Kołobrzeg, whereas Polsteam in Szczecin is a state-owned enterprise that also falls within the State Treasury’s control.  

 

The south-east Baltic is among the most active European maritime economies – the volumes and values associated with transportation are continuously on the rise.

 

mab