Stena and Golden Agri JV Acquire Half Dozen Chemical Tankers

Image: Stena Bulk

Erik Hånell, President and CEO of Stena Bulk notes in a phone call today that his company, along with Golden Agri (GAR), have bought six Samho-built chemical tankers from Greek shipping firm, Empire Chemical.  The total investment is in the region of USD $100 million according to an emailed statement.

Golden Stena Weco, which is a joint venture between Stena Weco and Golden Agri-Resources (GAR), will be responsible for the commercial management.

The tankers have a deadweight of 17,000 tons and were all built between 2008-2009. The six tankers have been given the names GSW Forward, GSW Fabulous, GSW Frontier, GSW Fortune, GSW Future, and GSW Fighter and will join the Golden Avenue and her sister the Golden Adventure in the jointly owned fleet.

“With the new investment in this segment, we are entering a new chapter in our collaboration with Golden Agri-Resources. These tankers will transport chemicals and vegetable oils on an international basis”, commented Hånell. “Golden Stena Weco, with its head office in Singapore, is now responsible for the commercial operation of eight jointly owned chemical tankers as well as a number of time-chartered vessels. 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.”

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