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WEC Lines liquid its Moroccan subsidiary

While he strengthened his ties with his Moroccan partner, in this case the TRANSMAR group, the Dutch shipowner Wec Lines decided to put an end to his direct presence in Morocco.

The specialist in container transport convened for January 2020, an Extraordinary General Meeting of its wholly-owned subsidiary WEC Lines Morocco, with the agenda for the early dissolution of this entity created in 2009.

This decision follows the WEC Lines Group’s desire to rationalize the architecture of its worldwide operations, by favoring the network of exclusive agents with a key capital partnership, if deemed appropriate. This is also the case in Morocco where WEC Lines holds a 33% stake in EXMARIS, its exclusive agent on the Moroccan market for 11 years and whose remaining share capital is jointly controlled by Transports Marocains and Union Maritime et Minière, two entities belonging to the group Transmar, one of the pioneers in Morocco in the trades of transit and maritime consignment.

Also, now EXMARIS will be the only participation in Morocco of the group based in Rotterdam, but also its only operational arm on the Moroccan market in charge of all operations of transit, commission, brokerage and consignment of vessels operated by WEC Lines. As for the liquidation of WEC Lines Morocco, it will have no social impact since its staff will be fully recovered by EXMARIS.

Recall that WEC Lines started its activities forty years ago before becoming a giant of the seas specializing in container shipping and operating on short and long sea shipping lines. In Morocco, the group started with lines between Casablanca and Portugal before widening its scope to different maritime routes between Morocco and the rest of Europe, mainly Spain and the North West of the old continent, with an annual volume of more than 30,000 TEU (equivalent twenty feet) for containers to Morocco.

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