Stena Bulk investment plans for 6 chemical tankers

By Finance

A new investment in further 6 chemical tanker ships made Stena Weco / Stena Bulk along with Golden Agri (GAR). For the commercial management of the new tanker ships will be responsible Golden Stena Weco, a joint venture company between Golden Agri-Resources (GAR) and Stena Weco.

By making the investment into new 6 tanker ships the company of Golden Stena Weco is aiming to ensure that they have the needed resources to meet its own transport needs, by the means of reliable, efficient, operational and commercial management, to make its shipments profitable despite the relatively low market condition in the recent time. According to released information, the entire investment for the new tanker ships is about $100 million.  

The new tanker ships named: GSW Future, GSW Frontier, GSW Fighter, GSW Fabulous, GSW Fortune and GSW Forward each with deadweight of 17,500 tons, built at the shipyard of Samho Shipbuilding, South Korean in 2008-2009. The new tanker ships are going to join the Golden Adventure and her sister vessel Golden Avenue in the jointly owned fleet.

Erik Hånell, President and CEO of Stena Bulk and President of Stena Weco revealed more details about this deal informing that the tankers will be used for transportation of chemicals and vegetable oils on an international basis. Mr. Hånell explained that Golden Stena Weco which heads office is located in Singapore will be responsible for the commercial operation of 8 jointly owned chemical tankers and a number of time-chartered vessels. He said:

"This investment is yet another step in building up our joint venture. We see this as part of the strategy of capturing market shares in Asia in particular with the long-term aim of establishing a presence, via our close partners, in new areas in this segment with the possibility of developing on other continents."