Stena Bulk Expands Collaboration with Teekay

Wednesday, July 25, 2007
The shuttle tanker Navion Gothenburg was delivered, after upgrading and modification, from the shipyard Dubai Drydocks. The basic model of the vessel was built at the shipyard Samsung Heavy Industries in South Korea and is owned on a 50-50 basis and on the same terms by Stena Bulk and the Canadian shipping company Teekay. Immediately after delivery, the Navion Gothenburg will enter a 13-year charter with Petrobras, the largest oil company in Brazil. Stena Bulk has been working with Teekay for several years, currently in the form of six shuttle tankers on long-term charters stationed in the North Sea and off the Brazilian coast. The crude oil tanker Navion Gothenburg, a 152,000 dwt Suezmax shuttle tanker with a double hull and a length of 902 ft., is the latest addition.

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