Tanker company Stena Bulk on Tuesday announced a major reorganization that will see the company split into three business areas focussing on crude and fuel, products and chemicals, and LNG. At the same time, its business activities previously conducted under the name of Stena Weco are being coordinated and incorporated into Stena Bulk. The company has also appointed two … [Read more...]
Slow Steaming Optimization Helps Stena Bulk Save
Given today's current and forecasted freight markets and fuel prices, Stena Bulk, one of the world's leading tanker shipping companies, is pushing now more than ever to maximize the relationship between freight and bunker fuel. To do this, the company is in the midst of an energy management project combining the operation of its vessels at lower, more efficient speeds and … [Read more...]
Stena and Golden Agri JV Acquire Half Dozen Chemical Tankers
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 … [Read more...]
Stena Bulk and Hyundai Glovis to Collaborate in Arctic Shipping
Stena Bulk and South Korean Hyundai Glovis, the Hyundai group’s shipping arm, have announced a plan to work together on a long term shipping strategy focused on utilizing the North East Passage, aka, the Northern Sea Route. The kick-off of their plan begins on 15 September when the Stena Polaris, a P-MAX tanker with ice class 1A designation, casts off her mooring lines … [Read more...]
Stena Bulk Makes $10 Million Gain From Efficient Shipping Strategy
By Catherine McMillan, Whilst Maersk has famously stated that its efficiency measures were the vital component that have made the difference between profit and loss, other companies in the sector are starting to highlight the savings that they too have implemented. In particular, Stena Bulk has stated that it has saved SEK 65 million (USD $10 million) through the … [Read more...]