The Italian shipping company Moby Lines acquired share from St Petersburg ferry operator St Peter Line. The financial terms and exact value of the transaction were not disclosed. It is not yet clear what share the Italian shipping company acquired from the Russian ferry operator. With the new partnership, St Peter Line expects to increase revenues by attracting Italian tourists. The both companies will partner in tourists exchange, operational structure and administration. It is expected the Russian ferry operator to change its vision for development and strategy for improvement of market share.

“This transaction is not for the sale of the ferries. Moby Lines takes the vessel in the administration. Change the structure of the company owners. It is rather a union of the two operators”, said CEO of St Peter Line, Sergei Kotenyov. “the new co-owner will change the concept of development of St Peter Line. It is expected to started offering new products, in particular the Italian vacation on the Baltic Sea. If all goes well, it is possible that additional vessels to be ordered in 2017”, added he.

The Russian ferry operator St Peter Line manage two ferries – Princess Maria and Princess Anastasia. The vessels were built in 2010 and operate at Baltic Sea on routes, calling at port of St Petersburg, Tallinn, Stockholm and Helsinki. The company intends to improved its fleet to six vessels in period 2016-2020, extending its operations also in Black Sea and Far East.

On other hand, Moby Lines serves Italian cruise lines in the Mediterranean between Italy and France. The company’s fleet consists of 68 ships.