• ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
  • ITVI.USA
    15,433.470
    55.400
    0.4%
  • OTLT.USA
    2.727
    -0.016
    -0.6%
  • OTRI.USA
    20.850
    0.030
    0.1%
  • OTVI.USA
    15,408.360
    58.320
    0.4%
  • TSTOPVRPM.ATLPHL
    3.280
    -0.020
    -0.6%
  • TSTOPVRPM.CHIATL
    3.190
    0.050
    1.6%
  • TSTOPVRPM.DALLAX
    1.560
    -0.030
    -1.9%
  • TSTOPVRPM.LAXDAL
    3.420
    0.090
    2.7%
  • TSTOPVRPM.PHLCHI
    2.220
    0.050
    2.3%
  • TSTOPVRPM.LAXSEA
    4.080
    0.000
    0%
  • WAIT.USA
    126.000
    1.000
    0.8%
American Shipper

P&O BUYS OUT STENA, CUTS INTRA-EUROPE RO/RO SERVICES

P&O BUYS OUT STENA, CUTS INTRA-EUROPE RO/RO SERVICES

   U.K.-based Peninsular and Oriental Steam Navigation Co. has announced an agreement to acquire the 40-percent share of Stena Line, the Swedish shipping line, in the P&O Stena short sea joint venture.

   P&O will pay Stena about '150 million ($215 million) for its share in P&O Stena, one of the major operators of intra-European roll-on/roll-off ferry services based mainly on the Dover cross-Channel route.

   The agreement “will lead to a consolidation of P&O’s short sea ferry interests and a possible rationalization of ferry services on the North Sea,” P&O said.

   P&O Stena Line also announced plans to terminate its Dover/Zeebrugge route towards the end of this year, and said that it is considering the possible closure of the Felixstowe/Zeebrugge and Felixstowe/Rotterdam routes.

   “The decision to consult about the possible closure of the Felixstowe routes, and the Dover/Zeebrugge route, results from their inability to achieve an adequate return,” P&O said.

We are glad you’re enjoying the content

Sign up for a free FreightWaves account today for unlimited access to all of our latest content

By signing in for the first time, I give consent for FreightWaves to send me event updates and news. I can unsubscribe from these emails at any time. For more information please see our Privacy Policy.