Golden Agri Resources News

Golden-Agri Stena, a joint venture between Sweden based tanker shipping company Stena Bulk and Indonesia’s largest palm oil producer Golden Agri-Resources, has started a new joint venture with Japan's Bay Crest Management for the the operation and commercial management of chemical tankers.The new joint venture, GSB Tankers, will commence operation on January 1, 2019, managing 18 chemical tankers to start, with the aim of managing 30 vessels within the next two years.The joint venture will operate out of the existing premises of Golden-Agri Stena.

The final vessel has been named in a series of 13 chemical and product tankers ordered by Stena Bulk at the Guangzhou Shipbuilding International (GSI) shipyard. The 50,000 dwt MR tanker Stena Impero was named on Wednesday in Guangzhou, China, completing a series of newbuilds ordered at Chinese shipyard GSI in 2012 for SEK 4 billion ($508 million). Erik Hånell, president and CEO of Stena Bulk, said, “With the delivery of the Stena Impero, the IMOIIMAX fleet is now complete, in line with the order, and is a significant and competitive addition to our high-quality fleet.

The digital naming of the MR tanker Stena Immortal took place January 18 at Stena's new office in Hellerup in the north of Copenhagen. The 50,000 dwt Stena Immortal was built at the Guangzhou Shipbuilding International (GSI) shipyard in southeast China and is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR). Following her delivery in September 2016, the 183-meter-long tanker has sailed in one of Stena Bulk's global logistics systems, which currently employ some 60 vessels, with a focus on refined petroleum products, vegetable oils and chemicals. When the Stena Immortal was named, it was not physically present in Copenhagen but in Houston where it is already in service.

The latest IMOIIMAX tanker to be delivered, Stena Impeccable, was officially named during a ceremony in the Port of Rotterdam. The vessel’s godmother was Trintje Margaretha Oosters, from Dutch RVB Company with which Stena Bulk and Stena Weco have a long-lasting relationship. The Stena Impeccable was delivered at the beginning of March this year after which she sailed from China to Australia with a cargo of caustic soda. She then sailed with a cargo of vegetable oil from New Guinea via Singapore and the Suez Canal to Rotterdam.

The MR tanker Stena Imagination was named in the Port Rashid Terminal in the heart of Dubai. According to Erik Hånell, President & CEO of Stena Bulk and CEO of Stena Weco, “Naming the Stena Imagination in Dubai is very much a strategic choice. Stena Bulk recently opened an office here together with Stena Weco and Golden Stena Weco. We already had a presence in the market in the region but wanted to get even closer to our customers. Stena’s tanker business already has a presence in the area with contacts in the neighboring region.

LOUIS DREYFUS ARMATEURS Group (LDA) has signed a Memorandum of Understanding (MOU) with palm oil plantation company Golden Agri-Resources (GAR) to develop maritime logistics business opportunities in Indonesia. The MOU signed between GAR and LDA focuses on developing logistics in Indonesia for the next five years with planned acquisitions and investments amounting to around $100 million. In 2014, LDA and GAR established a joint venture company dedicated to transport LDA and GAR cargoes within Indonesian waters. In 2016, this JV transported 4,500,000 metric tons of various cargoes. “This new step in our partnership with GAR confirms LDA’s strategy to keep strong links with Indonesia where our Group has been active for more than 25 years…

The Stena Immaculate, the ninth vessel in a series of 13 new IMOIIMAX MR tankers, was named January 10, 2017 at a ceremony at China’s Guangzhou Shipbuilding International (GSI). A large number of guests, from both corporate management and partners as well as representatives of the shipyard had gathered on the quayside to attend the naming ceremony. The ceremony began with traditional Chinese dance and music before the ship’s godmother Katarina Ljungqvist, Head of Handelsbanken Western Sweden…

Stena Bulk, via Stena Weco and Golden Stena Weco, has opened a new office in Dubai and will move in this month. The official inauguration will take place in January next year. The company already has a presence in the market in the region but said it wants to get closer to its customers to continue to develop the transportation of chemicals and petroleum products. For Stena Bulk and Stena Weco, which, with its IMOIIMAX fleet, is focusing increasingly on trade with chemicals, Dubai is a strategic hub.

The Stena Immortal was delivered yesterday from the Chinese shipyard GSI (Guangzhou Shipbuilding International) in southeast China. The vessel is jointly owned on a 50-50 basis by Stena Bulk and Indonesian Golden Agri Resources (GAR) and is the eighth of a total of 13 IMOIIMAX tankers ordered by Stena Bulk in 2012. She will be operated by Stena Weco and will sail in the company’s global logistics system, which currently employs about 60 vessels. 2016: The Stena Imperative, Stenaweco Impulse and Stena Imagination.

Chinese shipyard GSI (Guangzhou Shipbuilding International) has delivered the newly built MR tanker Stena Imagination to 50-50 joint owners Stena Bulk and Indonesian Golden Agri Resources (GAR). She will be operated by Stena Weco and sail in the company’s global logistics system, which currently employs about 60 vessels. Stena Imagination is the seventh of 13 IMOIIMAX tankers ordered by Stena Bulk. Three of the 13 IMOIIMAX tankers are wholly owned by Stena Bulk, six together with GAR, two by Stena Bulk’s sister company Concordia Maritime and two by Stena Weco.

Newly built chemical and product tanker Stenaweco Impulse was named by H.R.H. Crown Princess Mary of Denmark, whobroke a bottle of champagne against the tanker’s bow and wished the vessel, her captain and his crew fortune and prosperity. Named on Monday at a cerempny at Langelinie Pier in the center of Copenhagen, Stenaweco Impulse is the newest vessel owned by Stena Weco, a joint venture between Swedish Stena Bulk and Danish Weco Shipping for the transport of vegetable oils, chemicals and petroleum products.

The chemical and product tanker Stena Imperative was yesterday named at China Merchants Wharf in Hong Kong. The vessel, an IMOIIMAX MR tanker, is wholly owned by Stena Bulk and was delivered a few days ago from the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME*) in Guangzhou. The traditional naming ceremony took place in a rainy Hong Kong attended by representatives of corporate management, the owner, customers, partners and shipyard representatives from all over the world. The happy and proud godmother is Kim Olsson, wife of Dan Sten Olsson’s son William.

Stena Bulk has placed an order for three 50,000 dwt IMOIIMAX MR tankers with the Chinese shipyard CSSC Offshore & Marine Engineering (CSSC OME), formerly Guangzhou Shipyard International (GSI), in Guangzhou. It has also taken out an option on a further two vessels. The total value of the order is $200 million. The first delivery is planned for the end of 2017 after which the vessels will be delivered at three-monthly intervals. The vessels now ordered are of the same type as the ten chemical and product tankers ordered by Stena Bulk in 2012 from the same shipyard…

A new 50,000 DWT MR chemical and product tanker based on the IMOIIMAX concept, Stena Imperial, was named yesterday in Savannah, Ga. Built by Chinese shipyard Guangzhou Shipbuilding International (GSI) and delivered on July 1, Stena Imperial recently arrived in Savannah on the U.S. East Coast with a cargo of palm oil. The new ship is owned by a joint venture of which Stena Bulk and Indonesian Golden Agri Resources (GAR) each own 50 percent. She is the third of 10 vessels ordered by Stena Bulk for a total of $400 million with delivery to be completed by 2017.

The first of Stena Bulk's $400M, ten-vessel order was named in Singapore yesterday. The Stena Impression is a IMOIIMAX 50,000 DWT MR chemical tanker owned by Stena Bulk and Indonesian's Golden Agri Resources (GAR). The ten ordered vessels will be operated by Stena Weco and will trade within the company’s logistical systems, which will include a fleet of more than 60 tankers. The IMOIIMAX tankers have been designed to transport both vegetable oils and chemicals, as well as clean and dirty petroleum products.

Stena Bulk/Stena Weco and Golden Agri (GAR) have invested in a further six chemical tankers. Golden Stena Weco, which is a joint venture between Stena Weco and Golden Agri-Resources (GAR), will be responsible for the commercial management. The main aim of the investment is to ensure that Golden Stena Weco has the necessary resources to meet its own transport needs and, by means of efficient commercial and operational management, to make shipments profitable despite the current relatively low market levels. The total investment is in the region of $100 million.

The shipping and chartering company Golden Stena Weco has invested in an additional product tanker. The 9,000 dwt vessel, the Golden Avenue, will transport palm oil mainly in Southeast Asia and will sail primarily from Indonesia and Malaysia to India and China. “The Golden Avenue, like her sister the Golden Adventure, is part of our jointly owned fleet and will be employed in transporting Golden Agri’s palm oil cargoes, mainly in Asia. The acquisition is yet another step in building up our joint venture”, says Erik Hånell, President & CEO Stena Bulk. Golden Stena Weco is a joint venture between Stena Weco and the Indonesian palm oil producer Golden Agri Resources (GAR).

Golden Stena Weco recently invested in its first tanker within the framework of the newly established joint venture. The 9,000 dwt tanker, called Golden Adventure, will be delivered from the Chinese shipyard Dongfang Shipbuilding in the next few days after reprofiling. “The Golden Adventure is the first tanker in our jointly owned fleet and will be employed in transporting Golden Agri’s palm oil cargoes mainly in Asia, more exactly from Indonesia and Malaysia to India and China”, says Erik Hånell, MD, Stena Weco. Golden Stena Weco is a joint venture between Stena Weco and the Indonesian palm oil producer Golden Agri Resources (GAR). The shipping and chartering company Golden Stena Weco recently inaugurated its office in Golden Agri Plaza in Singapore.