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B&N NORDSJOFRAKT TERMINATES BULK AND RO/RO ACTIVITIES B&N Nordsj'frakt AB, a Scandinavian shipping group, has decided to terminate its unprofitable bulk shipping and
roll-on/roll-off operations. The company will now focus on its transatlantic multipurpose shipping services and specialized offshore and ice-breaking activities. B&N
Nordsj'frakt reported a group net deficit of 4 million Swedish krona ($400,000) for the first nine months of the year. Bulk shipping and roll-on/roll-off operations incurred losses of
SEK24 million ($3 million) during the same period. B&N Nordsj'frakt will sell between 8 and 10 vessels and reduce personnel by approximately 130 people, as part of the business
withdrawal. The divestment of these vessels and operations will result in a charge to 2002 earnings of between SEK10 million ($1 million) and SEK20 million ($2 million). The ro/ro
business comprises vessels employed on a time-charter basis, for which B&N is both owner and operator. Two vessels were not able to find new employment during the third quarter. The
bulk/general cargo business includes mainly shipping services on Atlantic and northern European routes. “For transatlantic services, an extensive shipbuilding program is in progress,
involving RoLo and multipurpose/LoLo ships,” the company said. The ships carry paper, solid-wood products and other cargoes.