Stena Line Eyes Slight Improvement For 2000

Friday, April 14, 2000
Officials of loss-making Stena Line said the company expects a slight improvement in earnings for 2000. However, they said, the recovery will not occur until the second half of the year.

Stena Line posted a loss after financial items of $57.2 million for 1999 after a loss of $38 million the previous year. The scrapping of European tax-free shopping in June last year hit results in the second half of 1999.

Officials said the ferry operator is focusing on returning to profitability following the loss of duty-free concessions, stating that the company had already achieved significant cost cuts that it had been required to make, including closing the Halmstad-Grena route and shedding 700 jobs. The group also plans to start adjusting operations to market demand.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2233 sec (4 req/sec)