Swedish ferry company Stena Line has made a major long-term commitment to Humber with a 50 year lease.

Stena Line and Associated British Ports (ABP) have entered into an agreement to jointly develop a new freight terminal at the Port of Immingham in the Humber region.

The £100M agreement will see the ferry company operate the new terminal for the next 50 years.

It is a major long-term commitment and boost for the region, where freight on routes to and from the EU has been booming since Brexit.

At the start of the year Stena Line relocated its Rotterdam freight service to the Port of Immingham, the largest port in the UK by tonnage, which is owned by ABP.

With freight levels continuing to grow for the company, Stena Line needs to add capacity and expand its operations at Immingham.

The proposals outline the relocation of Stena Line’s current Immingham freight operations to a new site, adjacent to Immingham Outer Harbour, where ABP will develop a new purpose built terminal facility.

Niclas Martensson, Chief Executive Officer of Stena Line, said: “Our freight levels are at record levels and are continuing to increase, so we want to build on this success and provide additional services to our most important business needs, those of our customers, with the development of a brand new terminal and berths at the Port of Immingham.”

The proposals will allow the company to further expand its services by providing increased freight capacity for its customers.

ABP intends to submit an application for a Development Consent Order to the Secretary of State for Transport in early summer with a view to the new terminal facilities being operational in 2025.

Simon Bird, Humber Director, Associated British Ports, said: "We’re delighted to welcome this new deal with Stena as it underlines the fact that ABP in the Humber is continuing to go from strength to strength.

“Stena will be joining a growing family of commercial partners who are choosing to use ABP’s ports in the Humber which have fantastic facilities and connections for traders across Europe and beyond.”