23/04/2002

Stena Line to concentrate on Irish Sea market

Ferry operator P&O is set to close a number of routes and buy out Dutch partner Stena Line's 40% stake in their joint business for £150m.

P&O wants to cut its P&O Stena Line fleet from 10 ferries to eight and has plans to discus the possible closure of the Dover to Zeebrugge route towards the end of this year. Around 100 jobs could go at Felixstowe and Zeebrugge as a result of the cutbacks.

Stena Line, meanwhile, said it has decided to sell its stake in order to concentrate on its fully-owned services in the North Sea, Irish Sea and Scandinavia.

The firm said the move to buy Stena Line's stake would strengthen its position in a part of the UK to continental European ferry market which has been consistently profitable and offered a strong growth opportunity.

(MB)

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