Strong tanker market boosts Stena AB in Q3

Swedish shipping group Stena AB made it through the third quarter in strong form, benefiting especially from the soaring tanker market and growing RoRO volumes, but the low oil price could hurt the group in 2016 and 2017, says Danske Bank.

Photo: Stena

Sweden's biggest shipping group, Stena AB, delivered a strong third quarter with an improved overall result driven by growth in the group's RoRo and shipping segments, while the drilling unit was hit by the downturn in the offshore market.

Stena AB's operating result (EBITDA) came to USD 396 million in the third quarter, a 10 percent improvement from USD 360 million in the same period last year, according to the group's third quarter interim report.

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