Sale Of Stena Line Possible

Monday, 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.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

Brazilian Police to Probe Nuclear Submarine Program

Brazilian federal police are investigating potential irregularities in a military program that aims to build a nuclear-powered submarine in partnership with France by 2023, newspaper Folha de S.

Philippines Mulls Massive Military Spend

Philippine generals on Wednesday asked Congress to almost triple annual defence spending over the next five years to upgrade equipment amid an escalating marine dispute with giant neighbour China.

Finance

South Korea Okays Casinos on Cruise Ships

South Korea has given the go-ahead for cruise ships to operate onboard casinos for foreign guests, , reports the Korea Joongang Daily newspaper.   South Korean

India Delays 24 LNG Shiploads from Qatar

India has deferred taking deliveries of at least 20 shiploads of expensive liquefied natural gas (LNG) from its main supplier Qatar and wants a rate cut matching

Super Yachts Give Boost to NZ Economy

New Zealand Customs Minister Nicky Wagner says mid-winter marks the end of another successful yacht season, with many of the remaining international yachts departing at the end of last month.

 
 
Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1962 sec (5 req/sec)