Stena Bulk, Concordia Maritime Order Ten Tankers from GSI,China

Stena Bulk and Concordia Maritime confirmed an order of up to ten innovative, in-house designed chemical tankers. The ships will be built at Guangzhou Shipyard International (GSI) in China with deliveries beginning from spring 2014.

When delivered, the 50,000-dwt vessels will be the most sophisticated in the Stena Bulk and Concordia Maritime fleet. The value of the order is 400 million USD if all ten ships are declared. The main task for the new ships is to cover the increasing demand for transportation capacity within the successful Stena Weco Pool.

“To challenge today’s fierce competition within the tanker segment, we must invest in the higher end of the market. These ships will have an outstanding competitive edge both in the edible oil, chemical, and in clean-tanker markets,” said Ulf Ryder, President and CEO of Stena Bulk.

”This is a logical step in the development of our business and fleet, to invest in vessels with very good fuel efficiency and with outstanding cargo flexibility. They will be operating in the segment where we have our main focus and where we believe there is a very good growth potential”, said Hans Norén, President of Concordia Maritime, who has taken two vessels now ordered.

Flexibility is paramount to be competitive in the Chemical Tanker segment. Ships must be able to carry a wide range of cargoes in smaller parcels like the Liner Shipping Industry giving higher freight per ton. Also increasingly important in this kind of trade is to be able to quickly switch between various types and grades of cargoes.

“Our engineers have together with Guangzhou Shipyard succeeded in obtaining probably the most innovative Eco tankers existing with completely new hull lines, specially designed propellers, and many more topics which could mean a competitive advantage of some USD 3-5000,- daily when it comes to cargo flexibility and fuel economy,Ulf Ryder said.

Stena Bulk, Concordia Maritime Order Ten Tankers from GSI,China

“It is with great pleasure we are now getting a new specially designed fleet optimized for our cargo contracts within the Stena Weco Pool” says Erik Hånell, Managing Director of Stena Weco. “It is very stimulating that our owners and partners believe in what we have created so far and order these ships that will be commercially managed by Stena Weco.”

Totally six tankers has so far been confirmed whereof the publicly quoted Concordia Maritime has taken two ships and Stena Bulk four ships. There are further options included in the ship building contract which could be distributed to other joint partners.

Source: Stena Bulk, July 4, 2012

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