Ownership of Polish Baltic ferry carriers to change hands

Two Polish Baltic ferry carriers, Stena Line Polska and Polska Zegluga Baltycka (PZB) are soon likely to change ownership. Stena Line Polska is owned by the Olffon family, which plans to sell a 51% stake in the company in view of the almost zl. 200 million in losses recorded last year. "[The Olffon family] assured however, that it would not sell the shares to competitors," said Tomasz Oczkowski from Stena Line Polska. PZB ownership structure, meanwhile, will change as a result of the new share issue planned for later this year. The zl. 110 million issue will likely be bought by the Gdanska Stocznia Remontowa Shipyard (GSR), insurance company Warta and Powszechny Bank Kredytowy (PBK). As the market is becoming increasingly crowded on the Poland - Scandinavia route, PZB is now eyeing connections between Scandinavia and the Baltic States. PZB is thinking of close cooperation or even a possible takeover of one of the Eastern carriers. (Puls Biznesu, page 11) T.J.