Stena Line wants to save USD 157 million a year

Stena Line wants to save USD 157 million a year through a large scale cost-cutting program.

Stena Line has presented a comprehensive cost-cutting program to bring the struggling shipping company back on track, said the carrier on Monday according to Swedish newspaper Dagens Industri.

Over the last five years, the Swedish ferry company has lost 20 percent of its cargo volumes and 10 percent of the carrier's passengers has found other means of transportation when crossing the waters. Among other things, the carrier is hard hit by the fact that many of its former passengers are now opting to fly with the discount airlines.

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