Maritime transport: Moroccan Intershipping on the verge of bankruptcy, government seeks new investors
Shipping line | logistics | SupplyChain
Par Ibrahima DIALLO
26 December 2023 / 13:26

The Intershipping shipping company is going through a difficult financial period. The Minister of Transport and Logistics, Mohammed Abdeljalil, who confirmed the news before Parliament, said that the government was working to encourage Moroccan investors to take an interest in the shipping sector.

Ships flying the Moroccan flag and operating between northern Morocco (Tanger-ville, Tanger Med) and southern Spain (Algeciras, Tarifa) are becoming increasingly rare. The unexpected withdrawal of Intershipping, linked to financial problems, leaves the field empty for the international behemoths (FRS, Balearia, etc.).

Moroccan capital will continue to be represented by AML, owned by financial magnate Othmane Benjelloun.

Speaking to the House of Representatives on Monday December 25, Mohammed Abdeljalil, Minister of Transport and Logistics, confirmed the financial difficulties facing Intershipping. This Moroccan ferry company has been operating crossings of the Strait of Gibraltar between Spain and Morocco since 2012.

The Minister pointed out that this company "has not honored its commitments under an agreement concerning the maritime link between Tangier and Spain". However, he pointed out that AML remains operational and continues to provide crossings.

In addition, Mohammed Abdeljalil noted that "efforts are underway to attract new Moroccan investors to the sector". The aim is to diversify the players involved and strengthen the resilience of this maritime link.

In his speech to mark the 48th anniversary of the Green March, King Mohammed VI called for thought to be given to the idea of developing a national maritime fleet, particularly a merchant fleet.

The royal initiative has been greeted with great enthusiasm by players in the foreign trade ecosystem, who also see it as a way of putting an end to the monopoly of foreign companies.

Since the disappearance of the flagships of the national shipping industry (Comarit, Comanav and IMTC), accentuated by the liberalization of the sector in 2007, Morocco no longer has a merchant shipping fleet, apart from a few ships used to transport trucks through the Strait of Gibraltar, owned by AML and Intershipping.

There has also been a marked deterioration in available supply, as foreign companies operating in Morocco use old ships that have already been written off elsewhere.

Nisrine Zaoui




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