Sweden’s Stena Bulk A/B and Indonesia’s Golden Agri-Resources Ltd have set up Golden Stena Bulk as a new joint venture company to take over four 50,000dwt product tankers ordered by Stena Bulk last year from China’s Guangzhou Shipyard International. The vessels will be deployed by the Stena Weco pool, another joint venture formed by Stena and Golden Agri-Resources in partnership with Denmark’s Dannebrog.

Two more of the 50,000dwt vessels have been taken up by Stena’s associated Concordia Maritime for operation in the pool and there is the possibility that at least ten tankers will eventually be built. This would represent a total investment of over $400 million. The highly-efficient ships will be able to carry a wide range of liquid cargoes in smaller parcels, which is expected to give a higher freight-per-ton return. In addition, the use of new hull lines and specially designed propellers will give the tankers an operational advantage over existing tonnage of up to $5,000 per day. JS

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