Marine Link
Wednesday, October 26, 2016

Sale Of Stena Line Possible

April 17, 2000

The chairman of Swedish international shipping operator Stena Line AB told press he can imagine selling the loss-making ferry group. However, said Dan Sten Olsson, "it has to be a serious buyer who is not just out to shop up the company."

Stena Line - which also operates the English Channel with British shipping operator P&O under the P&O Stena Line company - posted a loss after financial items of $57.15 million for 1999. The group has cut costs to meet changes following the end of tax-free shopping in Europe. Olsson said he expected the loss-making group to break even in 2001.

He said there were several buyers who may be interested in the Swedish group, one of the world's largest shipping operators.

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