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Stena Ab News

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 Hånell, President & CEO Stena Bulk AB and Mrs. Cassandra Patrick, Godmother of the vessel look on - ©Proman 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.

06 Feb 2019

Green Light to Stena, Hyundai Glovis JV

The European Commission has approved the creation of a joint venture by Swedish Stena Rederi, part of Stena AB, and German Glovis Europe, which is controlled by South Korean Hyundai Glovis.Earlier, the companies have filed a merger application with the European Commission’s competition authorities for the unnamed joint venture.Created through the purchase of shares, the new unit would mainly operate short-sea transport services on pure car and truck carrier (PCTC) vessels in Europe."The European Commission has approved, under the EU Merger Regulation, the creation of a joint venture by Stena Rederi of Sweden, part of the Stena Sphere…

29 Jan 2018

Energean Israel Awards Contract to Stena Drilling

Energean Oil & Gas announced that Energean Israel has signed a contract with Stena Drilling for the development drilling of the Karish Field, offshore Israel. Pursuant to the contract, Stena Drilling will deploy the Stena Forth drillship (or such substitute as may be agreed by the parties) to drill three development wells in Q1 2019 (with provision made for further options), subject to Energean’s Final Investment Decision (FID) regarding the Karish and Tanin gas fields. The Stena Forth, one of the DrillMAX Fleet vessels, is a DP Class 3 ultra-deep water drillship with a track record in world-wide operations, ranging from the Mediterranean (Libya), Egypt (Gulf of Suez), Malaysia, Greenland and the US (Gulf of Mexico).

13 Dec 2017

ECSA Presidency Handed Over to Panagiotis Laskaridis

European Community Shipowners’ Associations (ECSA) has held its Board of Directors’ meeting and Niels Smedegaard of Danish Shipping and CEO of DFDS handed over ECSA Presidency to Panagiotis Laskaridis, Member of the Board of the Union of Greek Shipowners and CEO of Laskaridis Shipping and CEO of Lavinia Corp. Panagiotis will start his two-year term as ECSA’s new President from January 2018. Smedegaard will remain Board Member representing Danish Shipping. “I am very pleased of this trust, and committed to focus the European shipping agenda on shipowning matters, work with stakeholders for an efficient, competitive and future oriented European shipowning community’’, Laskaridis said.

12 Sep 2017

UK Shipping Industry Takes its Cause to Government

The UK Chamber of Shipping's CEO Guy Platten and its president Dr Grahaeme Henderson were among a delegation of international shipowners and major figures from the shipping industry that visited 10 Downing Street on Monday as part of London International Shipping Week 2017. The delegation, led by Maritime UK, took part in a round-table debate with government ministers to discuss both the challenges and opportunities facing the UK's maritime industry, and how the government can strengthen the country's appeal as an attractive business centre. UK Transport Secretary Chris Grayling chaired the debate, which was attended by Liam Fox, Secretary of State for International Trade…

29 Jun 2017

New Global Industry Alliance Established to Support Low Carbon Shipping

Leading shipowners and operators, classification societies, engine and technology builders and suppliers, big data providers, and oil companies have signed up to a new Global Industry Alliance (GIA) to support transitioning shipping and its related industries towards a low carbon future. Thirteen companies have signed up to launch the GIA, under the auspices of the GloMEEP Project, a Global Environment Facility (GEF)-United Nations Development Program (UNDP)-International Maritime Organization (IMO) project aimed at supporting developing countries in  the implementation of energy efficiency measures for shipping. Together, the GIA partners…

22 Nov 2016

WE Tech Shaft Generator Solutions for Stena ROPAX Ferries

(Photo: Stena Line)

WE Tech said it has received an order to deliver its permanent magnet shaft generator solutions to a series of four fuel efficient ROPAX ferries, with an option for another four. The vessels are to be built for the Swedish shipping company Stena RoRo at AVIC Weihai Shipyard Co., Ltd. in China. The four initial vessels will be operated by Stena Line within its route network in Northern Europe. “WE have developed the most energy efficient shaft generator solution to reduce the fuel consumption, operational costs and environmental footprint.

05 Apr 2016

Stena Orders Ro-pax Newbuilds from China

Stena Line ro-pax newbuild to be built at AVIC Weihai Shipyard (Image: Deltamarin)

Stena RoRo, a subsidiary of the Swedish ship owner Stena AB, and AVIC International Ship Development (China) Co. Ltd. have signed a contract, subject to board approval, for four ro-pax ferry newbuilds, including option for another four. These will be some of the first ro-pax ferries to be built in China for a western owner. Deltamarin Group will deliver an engineering, procurement, construction and management (EPCM) package for the new vessels, to be constructed at AVIC Weihai Shipyard.

01 Dec 2014

Stena Donates Tanker Model to Paris Museum

Stena donates tanker model to the Musée National de la Marine in Paris, highlighting safe maritime practices and clean oceans. A ceremony was held Friday evening at the prestigious national maritime museum, Musée National de la Marine in Paris, marking Stena’s donation of a model of the Stena Paris P-MAX tanker. The P-MAX tanker concept was developed in the early 2000s in collaboration with the French energy company Total. The aspiration was to construct the safest tanker possible, and the objective of the initiative was to prevent oil catastrophes. Participating in the ceremony at the Musée National de la Marine were executives from the Stena Sphere…

29 Sep 2014

Helgesson Tapped as Concordia Maritime CFO

Ola Helgesson, new CFO at Concordia Maritime AB

On 1 October, Ola Helgesson will take up the position of CFO at Concordia Maritime AB after having held the position of CFO at Stena Line group. Ola Helgesson has long experience as CFO at listed companies and solid knowledge of shipping. He also has a broad CFO profile with expertise in consolidated financial accounting, financing and investor relations. “Ola has many years of solid and differentiated background as CFO in several different industries. Personally, I am looking forward to inspiring cooperation in developing our existing and future business”…

02 Dec 2013

Concordia Maritime Appoint Kim Ullman President

Kim Ullman: Photo credit Stena LNG

Joakim (Kim) Ullman has been appointed President of Concordia Maritime AB with effect from 1 January 2014. Kim comes from Stena LNG where he has been CEO since 2012 and he will replace Hans Norén who will leave Concordia Maritime at the end of the year after ten years as president. “After a methodical search during the autumn, both externally and in the Stena AB group, the board of directors is very pleased that Kim Ullman has agreed to take over the helm at Concordia Maritime. There are few people in tanker shipping in the Nordic region with more solid qualifications than Kim.

24 May 2013

ICS Presents Shipping Economic Challenges to World Ministers

At the OECD International Transport Forum in Leipzig, Germany, the annual gathering of the world's transport ministers from more than 50 countries (May 22-24), the views of the global shipping industry were represented by the International Chamber of Shipping (ICS), the principal global trade association for shipowners. ICS explained the realities of the very serious economic challenges presently confronting shipping at a special ministerial session on the financing of sustainable maritime transport. Speaking on behalf of ICS, Stena AB CEO, Carl-Johan Hagman said, “In the current economic climate the shipping industry has to work in close contact with shipping’s global regulators, especially the IMO, and make them fully aware of the implications of their actions.

11 Jul 2012

ABB Provides Ferry Terminal Shore-to-Ship Power Units

Photo courtesy of ABB

ABB explains that ferries play a vital role in the public transport infrastructure of many waterside towns and cities. Vessels, which remain in ports for six hours on average, need electricity to run amenities such as heating, ventilation, cooling and galley equipment. Currently the electricity is produced with onboard diesel generators, which are a constant source of noise, vibrations, noxious emissions and the accompanying unpleasant smell. ABB’s fully integrated shore-to-ship power solution was activated at the port of Rotterdam.

21 Dec 2011

BV Completes first Energy Management Systems Audit

Bureau Veritas has completed the first certification audit of any shipping company in the world  to the new standard ISO 50001- 2011 - Energy Management Systems. Stena’s ship management division,  Northern Marine Management Ltd including  Northern Marine Management (USA) LLC,  has achieved certification to BS ISO 50001, which ensures systematic monitoring and control of energy usage, helping to optimise efficiency, reduce fuel consumption, reduce the company’s environmental footprint and provide a cost saving for the vessels owners.

05 Oct 2010

New Terminal Open at Kiel’s Schwedenkai

Kiel now has a new architectural landmark. The 13-storey terminal at Schwedenkai, two years in the building, was officially inaugurated at a ceremony on October 1st. Peter Harry Carstensen, the Minister President of the federal German state of Schleswig-Holstein, Torsten Albig, Lord Mayor of the state capital of Kiel, Dan Sten Olssen, CEO of Stena AB and Dr Dirk Claus, Managing Director of the Port of Kiel (SEEHAFEN KIEL GmbH & Co. KG) jointly cut a ribbon at the entrance to the passenger level, officially opening the new terminal. “This is a great day for the Port of Kiel”, said Dirk Claus. “The new Schwedenkai underscores our position as one of the most popular passenger ports in Germany and as a first-class handling hub for breakbulk cargo”.

11 Jul 2005

Berglund Joins OSG

Overseas Shipholding Group, Inc. appointed veteran shipping executive Mats Berglund as Senior Vice President to lead OSG's Crude Transportation Strategic Business Unit. In this newly created role, he will be responsible for OSG's VLCC, Aframax and Panamax tanker operations. Berglund will relocate to the United States and be based out of OSG's corporate headquarters in New York City, New York. Morten Arntzen, President and CEO of OSG said, "Mats' broad shipping experience, leadership, financial acumen, innovation and ability to develop strong customer, business and governmental relationships is exceptional." Mr. Mats Berglund commented, "I am very excited to join OSG, an industry leader with world class operations and financial strength. Since 2002, Mr.

25 Oct 2007

Arlington Tankers Announces Results

Arlington Tankers Ltd. (NYSE: ATB) announced financial results for the third quarter and the nine months ended September 30, 2007. For the quarter ended September 30, 2007, the Company's total revenues were $17.5m, consisting of $16.5m in basic vessel charter hire and $1.0m in additional charter hire that the Company received under its profit sharing arrangements. On the basis of the third quarter results, Arlington's Board of Directors has declared a cash dividend of $0.59 per share. The additional charter hire earned during the third quarter of 2007 was derived from profit sharing arrangements under the time charters of the Company's V-MAX, Panamax and Product vessels.

03 Apr 2006

ABB Wins Contracts Worth $110M

ABB has been awarded contracts worth $110 million to supply electrical power systems for twelve vessels and five offshore drilling rigs. • Total electrical power system packages for two semi-submersible drilling rigs for subsidiaries of Jon Fredriksen controlled SeaDrill Ltd (Subsea Drilling (III) Ltd and Subsea Drilling (IV) Ltd). The rigs will be built at South Korea’s Daewoo Shipbuilding and Marine Engineering, based on a GVA 7500 design with the first rig delivery in early 2008. • Total electrical power system package for one semi-submersible drilling rig for PetroRig I Pte Ltd/PetroMena ASA under management by Larsen Oil & Gas.

24 Apr 2001

S&P Trims Stena's Credit Rating

Standard & Poor's lowered its long-term corporate credit rating on Sweden-based Stena AB to double-'B' from double-'B'-plus. The senior unsecured rating on Stena was also lowered, to double-'B'-minus from double-'B'. At the same time, the ratings were removed from CreditWatch, where they were placed with negative implications on Oct. 31, 2000. The outlook is negative. The downgrade reflects Stena's increased exposure to the difficult Northern European ferry market and a weaker financial profile following completion of the acquisition of Stena Line AB. Stena Line, which is wholly owned by Stena, is one of the world's largest ferry companies, with routes in Northern and Western Europe.

21 May 2001

Moody's Declares Negativity at Stena AB

Moody's Investors Service today confirmed the Ba3 rating for senior notes of Stena AB ("Stena") and changed the outlook for its ratings to negative from stable. The Ba3 rating reflects the company's increased exposure to the European ferry industry and higher financial risk as a result of the acquisition of a 100 percent ownership in Stena Line AB. At the same time, Moody's confirmed Stena's Ba2 senior implied rating, and also Stena International BV's senior secured bank loan rating of Ba1. The negative outlook for the ratings reflects Moody's concerns that Stena may not be able to substantially improve the performance of its ferry operations near term. With that, Moody's concludes the review of Stena's ratings for possible downgrade it initiated on November 1, 2000.