Stena Tries To Adjust To Loss Of Duty-Free Sales, Reports Losses

Friday, August 27, 1999
With the loss of duty-free sales in Europe from July 1, Swedish ferry operator Stena Line AB has already seen a drop in on-board retailing and slashed 660 jobs. On Thursday, Stena Line posted a pre-tax loss of $27.9 million for the first six months of 1999 versus a loss of $63.5 million in the 1998 period.

Contracts

Austal Dives into Loss

Australia’s largest shipbuilder Austal posted a full year loss of $84.28 million because a program to build war ships for the US Navy took longer than expected.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.

 
 
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