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Stena Bulk Ab News

09 Nov 2023

Sustainable Fund Launched for Methanol Fleet

Source: ProMarine

ProMarine AG has launched an industry-first sustainable shipping fund with an initial portfolio of four methanol-fuelled MR tankers led by Proman and Stena Bulk.Low Emission Methanol Shipping Company S.C.A. SICAV–RAIF (LEMSCO) is the result of a collaboration between Proman and Stena Bulk. The fund is backed by equity investors and benefits from a green loan from ABN AMRO. LEMSCO's seed assets consist of four methanol fuelled vessels acquired from Proman and Stena Bulk: Stena Pro Patria…

24 Nov 2022

Proman Stena Bulk Names Its First Methanol-fueld Tanker in Trinidad & Tobago

During the unveiling of the vessel name, Dr. the Honourable Keith Rowley, Prime Minister of Trinidad and Tobago, Mr. David Cassidy, Chief Executive of Proman, Mr Erik Hünell, President & CEO Stena Bulk AB and Mrs. Cassandra Patrick, Godmother of the vessel look on - ŠProman Stena Bulk

In a ceremony held in Trinidad and Tobago on November 23, 2022, Proman Stena Bulk Ltd formally named its first newbuild IMOIIMeMAX methanol-fueled 49,900 DWT vessel, Stena Pro Patria.Stena Pro Patria is the first of three methanol-fueled vessels delivered in 2022 to the joint venture between tanker company Stena Bulk and the methanol producer Proman, with a further three newbuilds due for  delivery between now and 2024.The naming ceremony was the first for a methanol-fueled newbuild in Trinidad and Tobago, and was attended by Trinidad and Tobago’s Prime  Minister, Dr.

05 Jul 2022

Guangzhou Shipyard Delivers Pair of Innovative Newbuild Ships

The 57,000 dwt Greenway, an LNG dual fuel Suezmax tanker built by GSI shipyard in China for Singapore headquartered shipowner Eastern Pacific Shipping Pte. Ltd. (Photo: Guangzhou Shipyard International)

Guangzhou Shipyard delivered a pair of innovative ships recently: the 274m, 157,300 dwt Greenway reported to be the world’s first LNG dual fuel Suezmax tanker built for Singapore headquartered shipowner Eastern Pacific Shipping Pte. Ltd.; and the 49,990 dwt tanker Stena Pro Marine, the second methanol-fueled ship ever built in China.The Stena Pro Marine was handed over to Proman Stena Bulk, a joint venture between Sweden’s Stena Bulk AB and Switzerland-headquartered Proman, with…

27 Apr 2022

First China-built Dual-fuel Methanol Powered Tanker Starts Sea Trials

Credit: Guangzhou Shipyard International

Guangzhou Shipyard International  (GSI) has started sea trials of the Stena Pro Patria, the first methanol-powered dual-fuel tanker constructed in China in what has been described as a 'watershed moment' in the development of methanol as an alternative fuel for medium-range tankers.GSI signed the deal to build three 49,990 dual-fuel DWT tankers with Proman Stena Bulk, a joint venture between Sweden-based Stena Bulk AB and Switzerland headquartered Proman in 2019. Stena Pro Marine and Stena Prosperous…

03 Oct 2019

Proman Shipping Signs JV with Stena Bulk

Photo: Stena Bulk

Proman Shipping AG and Stena Bulk AB announced a new Joint Venture partnership for 50/50 ownership of two long term time-chartered ships, under the name ‘Proman Stena Bulk Limited’.

05 Mar 2019

Stena Bulk's IMOIIMAX Fleet a Success

The tanker shipping company Stena Bulk AB said that it has now had a fleet of 13 IMOIIMAX vessels of MR model on the market for a year, and an evaluation shows that the chemical vessels have been a success, both in terms of performance and business.An IMOIIMAX tanker has 18 separate tanks (3,000 m3/tank), which provides for large freedom of choice as regards combinations of cargoes. The IMOIIMAX vessels are also characterised by high safety and low fuel consumption."Utilization of and entry into the chemicals market has gone better than expected, and we have secured a good market position that we are continuing to build on. We have achieved this through not only our hard work in marketing…

04 Jan 2018

Top Ships Gets TC Extension for Four Vessels

TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence. The Company expects a total gross revenue backlog associated with these time charter extensions of $27.4 million.

01 Apr 2016

Stena Weco Impulse Delivered from China

Stena Weco Impulse (Photo: Stena Weco)

The chemical and product tanker Stena Weco Impulse, jointly owned on a 50-50 basis by Stena Bulk and the Danish Weco Group, has been delivered from the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME) in Guangzhou. The IMOIIMAX tanker Stena Weco Impulse is the sixth in a series of 13 vessels ordered by Stena Bulk. She is now en route to several Indonesian ports where she will load vegetable oils after which she will sail to Barcelona and Rotterdam to discharge her cargo. The naming ceremony will take place in Copenhagen in June 2016.

21 Jan 2016

Capital Product Partners Declare Cash Distribution

Capital Product Partners L.P. a Marshall Islands master limited partnership and an international owner of modern tanker, container and drybulk vessels today announced that its board of directors has declared a cash distribution of $0.2385 per common unit for the fourth quarter of 2015 ended December 31, 2015. The fourth quarter common unit cash distribution will be paid on February 12, 2016, to unit holders of record on February 5, 2016. All vessels of Capital Product Partners are under period charters to BP Shipping Limited, Cargill International S.A., CMA-CGM S.A., Cosco Bulk Carrier Co. Ltd., CSSA S.A. (Total S.A.), Hyundai Merchant Marine Co.

26 Nov 2014

Stena Bulk Joins World Ocean Council

Stena Blue Sky (Photo courtesy of Stena Bulk)

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime operations to promote the sustainable use of the world’s oceans. The World Ocean Council encourages the business community to assume collective responsibility for the seas, and does not believe that a single company or industry can alone solve problems related to the Arctic, marine debris and ocean noise from tankers.

15 Oct 2013

Stena Tanker Sails the Northeast Passage

Stena Polaris

The Stena Polaris is approaching its destination – the port of Yosu in South Korea. Her voyage began on September 17 in Russian Ust Luga in the Gulf of Finland, and she is expected to arrive in Yosu in about a week. For part of the voyage of 8,400 nautical miles, the tanker sailed in a convoy headed by a Russian nuclear powered icebreaker through the harsh Northeast Passage. Sailing via the Northeast Passage offers the expansive Northern Asia opportunities to speed up the freight routes to and from the region.

12 Jun 2000

Lubricant Technology Proven Tough Under Fire

When Texaco, now represented in the marine lubricants market by FAMM (Fuel and Marine Marketing), launched Taro 40 XL 40, the lubricant was designed to address pressing field problems in medium speed engines. Three years later FAMM is in a position to evaluate the performance in a large number of engines and to compare the field results with competitive lubricants. The pressing problems arose from a series of engine design and fuel processing changes. Although aimed at improving engine efficiency and making savings, the changes resulted in a series of difficulties. The best known are engine blackening, undercrown deposits, piston head corrosion, fouling of purifier heaters, increased oil consumption, base number depletion, oil scraper ring clogging and increased piston deposits.

15 Jun 2000

Dot Com, Maritime Style

Much as has transpired in mainstream consumer markets, the dot com craze has recently enveloped the maritime world with promises of cost savings and operational efficiencies. While an attrition and natural process of consolidation can eventually be expected, the world of e-commerce solutions for the maritime market is definitely in its infancy. While it is impossible to judge the full working models in this report, the following text contains synopsis reports on some of the more noteworthy market entrants. Recently launched by Boston-based WebPark Corp., Boat-Park.com is an on-line virtual trade show, which seeks to bring together worldwide participants into its virtual trade show, which is open 24/7.

10 Jan 2006

Arlington Tankers Acquires Product Tankers

Arlington Tankers Ltd. has completed the acquisition of two modern 47,000 deadweight tonne double-hulled Product tankers from the Stena Group for an aggregate purchase price of $92 million. The new vessels, Stena Contest and Stena Concept, were built in 2005. With the delivery of the two new vessels, Arlington's eight-vessel fleet now consists of four Product tankers, two Panamax tankers and two V-MAX tankers. In conjunction with the purchase, Arlington has entered into fixed rate charter hire agreements with Stena Bulk AB for both vessels. The charters provide for an initial period of three years, at a rate commencing at $19,765 per day for the first year, $20,043 per day for the second year, and $20,335 per day for the third year.

18 Nov 2005

Arlington to Acquire Two Tankers for $92M

Ltd. million in cash. in 2005. Arlington expects to take delivery of the vessels in January 2006. charter hire agreements with Stena Bulk AB for both vessels. day for the third year. initial three year period. 30 months. vessels with Northern Marine Management Ltd. fixed rates commencing at $5,565 per day and increasing at 5% per year. Northern Marine Management Ltd. is a wholly-owned subsidiary of Stena Group. vessels. approximately 14.4% of Arlington's outstanding shares of common stock. necessary financing to pay the cash purchase price. amortizing term loan facility with The Royal Bank of Scotland. interest rate swap. 2005. existing debt facility. interest rate swap with Fortis Bank and HSBC Bank. the purchase of the vessels and to establish the new debt facility. Marine.

17 Nov 2005

Arlington Tankers to Acquire Product Tankers

Arlington Tankers announced that the Company has entered into an agreement to acquire two modern 47,000 deadweight ton double-hulled product tankers from the Stena Group for an aggregate purchase price of $92 million in cash. in 2005. Arlington expects to take delivery of the vessels in January 2006. charter hire agreements with Stena Bulk AB for both vessels. day for the third year. initial three year period. 30 months. vessels with Northern Marine Management Ltd. fixed rates commencing at $5,565 per day and increasing at 5% per year. Northern Marine Management Ltd. is a wholly-owned subsidiary of Stena Group. vessels.

26 Apr 2000

OceanConnect, Clarksons Join Forces

Online marine fuel supplier OceanConnect on Wednesday signed a strategic alliance with ship broking group Horace Clarkson Plc. Clarksons, the world's biggest shipbroking group will also become an equity partner in OceanConnect. In the last month OceanConnect has announced partnerships with shipping companies Eletson Corporation, Keystone Shipping Co and Stena Bulk AB plus Japan's Nippon Mitsubishi Oil Company and energy information provider Petroleum Argus. Scheduled to begin operations in late spring, OceanConnect said it aims to provide a fast and price-efficient marketplace for marine fuel transactions plus real-time information on pricing and product availability.