Stena now fully owns NTEX
NewsStena, already a majority owner of NTEX since 2020, has acquired the remaining 25% shares, becoming the sole owner, pending regulatory approval.
Stena Line drops a Baltic service
Swedish ferry operator Stena has announced the discontinuation of its route between Nynäshamn in Sweden and Hanko in Finland after 20 October
After 20 October both vessels in the service will be redeployed in the charter market or within the Stena Line fleet.
The route between Nynäshamn in Sweden and Hanko in Finland was opened in January 2022 in response to heavy market demand and on direct request from existing network customers. A month later, Russia invaded Ukraine, severely impacting Eastern Baltic trades as sanctions were introduced against Russia.
Stena Line cites failing demand from freight customers due to the current geopolitical situation as a key reason for withdrawing the service. In addition, the Finnish government’s decision to grant an exemption from the European Union Emissions Trading System (ETS) from 1 January 2024 for vessels trading via Åland will create an uneven commercial landscape with a clear advantage for trade via Åland, added the line.
“It is with a heavy heart we have reached the point, where we have to discontinue our route between Sweden and Finland. This has been a very difficult decision, but after considering all aspects we are convinced that we have made the right decision”, said Johan Edelman, Trade Director Baltic Sea North, Stena Line.
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