Stena Bulk Strikes Deal with Neste Oil

Tuesday, October 03, 2006
Stena Bulk has sold 50 percent of the tanker Stena Arctica to the Finnish oil company Neste Oil, which will also operate the vessel on a 10-year charter from 1 January, 2007 – mainly to transport oil from Primorsk to the Finnish port Porvoo in the Baltic. The 117,100 DWT Stena Arctica was delivered at the end of 2005 from the shipyard Hyundai Heavy Industries in South Korea and is the world’s largest tanker with the highest ice class (1A Super) currently in service. The Stena Arctica was named in January, this year, in the Port of Gothenburg and has since been deployed on the spot market transporting oil from Primorsk to Europe. Originally, the Stena Arctica had been booked for a long-term charter to a Russian company, but has now been replaced by her sisters Stena Antarctica and Stena Atlantica. Stena Bulk’s sister company Concordia Maritime, which is listed on the Nordic Exchange (former Stockholm Stock Exchange), and Neste Oil each own 50 per cent of the Stena Poseidon and the Neste Polaris, currently under construction in Croatia. These vessels will have a deadweight of 75,000 tons and are being built to ice class 1A specifications. The Stena Poseidon will be delivered at the end of 2006 and the Neste Polaris at the beginning of 2007. Both tankers have been contracted on long-term charters by Neste Oil. In 2008, Stena Bulk, together with Concordia Maritime, will operate a fleet of 12 large, ice-strengthened tankers.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

North P&I Club Repots Positive Financial Performance

North P&I Club reports that an exceptionally low year for claims has helped it increase its free reserves by $90 million to $428 million and deliver a combined ratio of 73.

Seaspan Responds to Canada’s NSS Announcement

In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president

DONG Energy Listing to Value Group at up to $16 Bln

DONG Energy's has set a potential $16 billion price tag on its stock market debut, giving investors a chance to buy into the growth in offshore wind power, but

Coast Guard

Seaspan Responds to Canada’s NSS Announcement

In response to the Government of Canada’s announcement of a series of enhancements to strengthen the National Shipbuilding Strategy, Seaspan Shipyards’ president

Migrant Boat Capsizes, Second in Two Days

A migrant boat capsized in the Mediterranean on Thursday and about 100 of its passengers have been rescued while the number of dead is unknown, officials said.   It

PureBallast Nears Completion of USCG Testing Procedures

Alfa Laval saiys it continues to move swiftly towards the submission of a U.S. Coast Guard (USCG) type approval application for Alfa Laval PureBallast 3.1. The

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0837 sec (12 req/sec)