Stena Bulk Charters In Six Suezmaxes

Stena BulkImage Courtesy: Stena Bulk

Swedish tanker shipping company Stena Bulk said that it had expanded its fleet in the Sonangol Suezmax pool with the addition of six Suezmax tankers over the past six months.

The ships in question are SKS Skeena, Istanbul, Almi Galaxy, Almi Voyager and Almi Sky.

The ships have been chartered in despite rather difficult market conditions in the sector and Stena Bulk believes that more tonnage will be hired soon.

“We are in a good position to expand our pool to about 30 Suezmax tankers and expect to do so with the help of partners and chartered tonnage. We are continuously evaluating the market and acting accordingly,” says Erik Hånell, President & CEO of Stena Bulk.

As indicated by Hånell, the pool arrangement has many advantages, including logistic, exposure to a larger market position and an opportunity to spread the risks resulting from the fluctuations in a volatile market.

The Sonangol Suezmax pool, which was established in 2005, currently consists of 25 Suezmax tankers with an average age of seven years. Out of these, 6 are time chartered and 3 are under commercial management.

The pool is operated in the form of a joint venture owned on a 50-50 basis by Stena Bulk and the Angolan state-owned oil company Sonangol.

Stena Bulk’s offices in Gothenburg, Houston and Singapore are responsible for operating and chartering of the vessels in the pool, which are deployed in the open spot market worldwide.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CruiseConnect Global 2019

Attend CrewConnect Global and stay on for the CruiseConnect Summit to take part in an industry-wide conversation focused…

read more >

CEDA Dredging Days 2019

CEDA Dredging Days programme will follow its successful format of contributed peer-reviewed…

read more >

Offshore Wind Europe 2019

#OWEU19 is a meeting place for governments, developers and suppliers to grow the confidence in wind power. Perfect to grow your business by securing new customers, meeting officials and industry heads.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >