In brief

• Żegluga Polska from the PŻM group will become the strategic investor of Polska Żegluga Bałtycka.
• The agreement was signed on 9 November and announced on Tuesday aboard a ferry in Szczecin.
• The goal is to improve the liquidity of the shipowner from Kołobrzeg and strengthen Polish ferry operators in the Baltic.

An agreement for an indebted shipowner

The Polska Żegluga Morska group, through its subsidiary Żegluga Polska S.A., will assume the role of strategic investor in Polska Żegluga Bałtycka (PŻM na ratunek PŻB. Jest przełomowe porozumienie – twojeradio.fm) (Szczecin: Grupa PŻM inwestorem strategicznym Polskiej Żeglugi Bałtyckiej – wnp.pl). The agreement between the Ministry of Infrastructure, Żegluga Polska and PŻB was signed on Monday, 9 November.

Purpose of the transaction

Deputy Minister of Infrastructure Arkadiusz Marchewka announced the creation of a strong Polish entity in the ferry market, controlled by State Treasury capital. According to the ministry, the acquisition is meant to improve the shipowner's financial liquidity and strengthen the position of Polish ferry operators in the Baltic.

Integration with Unity Line

Operational integration of PŻB and Unity Line is planned. The combination is meant to allow the use of economies of scale, while both companies and their brands will remain separate.

The company's situation

Polska Żegluga Bałtycka, one of the best-known Polish ferry shipowners, is in a difficult financial situation. The director of Polska Żegluga Morska, Dariusz Doskocz, assesses that the decision to take over will stabilize the company and allow it to continue operating. The PAP news agency describes the transaction as a rescue of the indebted shipowner from Kołobrzeg.