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Stena Group News

20 Jan 2021

Fruergaard to Take Over as CEO of Pacific Basin

(Photo: Pacific Basin Shipping)

Hong Kong-headquartered dry bulk shipping company Pacific Basin announced Wednesday that Martin Fruergaard will take over as CEO, replacing longtime chief executive Mats Berglund, who has decided to retie. Fruergaard, the current CEO of Danish gas shipping company Ultragas, will relocate to Hong Kong and join Pacific Basin in early July. He brings to the role significant maritime leadership experience, having previously occupied senior positions in Maersk Bulk Carriers, Maersk Tankers and Maersk Drilling.Berglund was CEO of Pacific Basin for nine years…

16 Oct 2018

Stena Bulk Confirms Scrubber Order with Bluesoul

Photo: Stena Bulk

Stena Bulk has signed a turnkey exhaust gas scrubber solution agreement with Chinese Bluesoul to equip its Suezmax and IMOIIMAX fleets. In total, Stena Bulk will equip 15 vessels with scrubbers and have an additional six options for installation prior to 2020.The scrubber to be installed is an Open Loop Hybrid Ready with Water Cleaning, which not only removes the sulfur but also particles from the exhaust.Shanghai Bluesoul Environment Technology, with its base in Shanghai, has had a collaboration agreement with the Stena Group for more than a year.

07 Jun 2016

DNV GL to Class Gas Ready Stena RoPax Newbuilds

DNV GL has signed a contract to provide classification services for Stena Line’s new RoPax ferries, to be constructed at AVIC Weihai Shipyard in China, the classification society announced today at the Posidonia trade fair in Athens, Greece. “During the course of the past 24 months our engineering staff has managed to develop a design that is not only 50 percent larger than today’s standard RoPax vessels, but more importantly, incorporates the emission reduction and efficiency initiatives that have been developed throughout the Stena Group during the past years,” Hagman continued. Knut Ørbeck-Nilssen, CEO of DNV GL – Maritime, said,…

12 Nov 2015

Concordia Posts Strong Q3

Good positions in a market that exceeded expectations gave Concordia Maritime part of Sweden’s Stena Group, a very strong ­quarter for the season. It recorded after-tax income of SKr52.4M ($6m) for the third quarter, a dramatic turn from a SKr27m loss the same period a year ago. The strong tanker market continued into the early part of the third quarter, but fell back slightly in August and September. After several strong quarters, we are now seeing a certain seasonal slowdown, just as previously predicted. However, the decline is from high levels and we do not believe that it will be as deep or prolonged as in recent years. The market in the crude oil segment has already recovered and we expect a similar trend for the product tanker segment during the current quarter.

07 Jan 2015

Insights: Johan Roos, Interferry's Executive Director of EU and IMO Affairs

Johan Roos

Johan Roos is Interferry’s executive director of European Union and IMO affairs based in Brussels, Belgium. He took up the newly created regulatory affairs post in September 2011 after previously serving as director of sustainability with Sweden’s Stena Rederi AB. He holds a masters degree in environmental sciences from the University of Gothenburg. In 2000, he left classification society DNV to join ferry operator Stena Line to develop internal environmental management systems and for many years, he was in charge of sustainability issues for all of the Stena group’s shipping activities.

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”…

29 Aug 2014

Stena, Sonangol Launch Training Facility in Angola

Cadets at the Maritime Training Center

The Centro De Formação Maritima De Angola (CFMA) was officially launched on August 27 by top management from Sonangol, the Angolan public sector energy company and the Stena Group of Sweden. The CFMA is a world class maritime training facility, the first of its kind in Angola and the most modern maritime campus in Africa. The campus will be an internationally recognized center of excellence, linked through Stena to leading maritime institutions in Europe and Asia in order to deliver marine education…

23 Oct 2013

Stena Polaris Completes Northeast Passage

After 35 days at sea, the Stena Polaris has arrived at the port of Yousu in South Korea. She has sailed via the icy and harsh Northeast Passage along Russia’s northern coast. After arriving at her final destination, the ship was celebrated with representatives of the South Korean government, the corporate management of both Hyundai and the Stena Group and the port authorities attending. The Stena Polaris began her voyage on September 17 in the port of Ust Luga in the Gulf of Finland with a cargo of 44,000 tons of naphtha.

19 Sep 2013

Neste Oil to Exit the Shipping Business

(Photo: Courtesy Neste Oil)

Neste Oil is planning to exit its shipping business. According to the plan, the company would sell all its own vessels and outsource the ship management functions currently covering them, with around 320 ship management personnel transferring to a new employer. Neste Shipping's chartering functions would be retained and integrated with Neste Oil's organization. Going forward, Neste Oil intends sourcing its marine transportation through contractual arrangements. "Neste Oil's shipping needs have changed in recent years," explains Neste Oil's President & CEO, Matti Lievonen.

05 Feb 2013

Suezmax Tankship Named in Korean Shipyard

'Stena Sunrise': Photo credit Stena Bulk

The last in a series of 7, the Stena Bulk tankship was named 'Stena Sunrise' at the Samsung Heavy Industries' shipyard. The Stena Sunrise is a third generation, fuel-efficient Suezmax and, like the other tankers in the series, will be employed on the spot market via Stena Sonangol Suezmax Pool. This ship is the last vessel in a series built at SHI and ordered at the beginning of 2010. Known as “The seven sisters”, with each representing an investment of just under SEK 500 million.

10 Feb 2012

Interferry Wins Long Term Support

Johan Roos, Interferry executive director of European Union and IMO affairs.

Recognition of Interferry’s growing role as a voice for the ferry industry has prompted classification society DNV and bookings/check-in systems specialist Carus to pledge long-term financial support for the trade association and its annual conference. Interferry offers two top-level Platinum sponsorships for the event – and each organisation has signed a five-year deal after stressing their belief that the association has a key role to play, not least in ensuring regulators take account of the impact of future legislation before it is passed.

22 Aug 2011

Interferry Specialist to Fuel Debate on Eco-issues

Johan Roos, Interferry Executive director of EU and IMO Affairs

Emissions control and alternative fuels will be among the headline topics at Interferry’s 36th annual conference – providing a high-profile platform for the trade association’s newly appointed specialist on maritime policy and regulations. The conference takes place in Barcelona from October 3-6, just a month after Stena group director of sustainability Johan Roos starts work as Interferry’s executive director of European Union and IMO affairs. Up to 300 top-rank delegates are…

08 Aug 2011

Interferry Plans to Open New Brussels Office

Interferry is opening a Brussels office with a full-time specialist for European Union and IMO activities in a bid to strengthen the ferry industry’s voice on maritime policy and regulations. Start-up funding for the initiative has been guaranteed by five major European members of the worldwide trade association – Brittany Ferries, DFDS, Grimaldi Group, P&O Ferries and Stena Line. Johan Roos, director of sustainability at Sweden’s Stena group since 2006, will join Interferry as executive director of EU and IMO affairs in September, working from an office within the Brussels HQ of the European Community Shipowners’ Association (ECSA).

25 May 2010

Canada Invests in Two Ferries for Marine Atlantic

The Honourable Rob Merrifield, Minister of State (Transport), Rob Crosbie, chair of Marine Atlantic Inc.’s (MAI) board of directors, and Wayne Follett, president and chief executive officer of MAI, announced that Marine Atlantic has reached an agreement with Stena Group of Companies to charter two new vessels. The vessels will significantly improve MAI’s ability to provide on-time, reliable service and meet increasing traffic demand between North Sydney, and Newfoundland and Labrador. “Our government is supporting Canada’s economy by investing in new ships to improve Marine Atlantic’s service and reliability,” said Minister Merrifield. “This investment, from Budget 2010, is another signal of our government’s commitment to Atlantic Canada.

18 Jul 2008

Aries Renews Bareboat Charters for Two Tankers

Aries Maritime Transport Limited announced it has renewed the bareboat charters for the Stena Compass, a 2006-built double-hull products tanker, and its sister ship, the Stena Compassion, with Stena Group. 2.5% in brokerage commissions. The charters also include a profit-sharing component for Aries equal to 30% of the actual Time Charter Equivalent rate above $26,000 per day per vessel. The charters are scheduled to commence upon expiration of the vessels' current charter. Aries also announced that the CMA CGM Seine, a 1990-built container vessel, is expected to be redelivered to the Company on July 20, 2008 following completion of its scheduled voyage and cargo operations.

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.

13 Dec 2005

Arlington Tankers Enters Loan Agreement

Ltd. million loan agreement with The Royal Bank of Scotland plc. agreement provides for a five-year term loan facility. N.V. tankers from the Stena Group. in January 2006. drawdown. an interest rate swap agreement with the Royal Bank of Scotland. at approximately 5.38%.

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.

19 Jun 2006

Aries Maritime Takes Delivery of Tanker

Aries Maritime Transport Limited announced it has taken delivery of the second of two new products tankers it acquired from the Stena Group. Upon delivery, the 72,750 dwt 2006-built double-hulled Panamax products tanker entered into a 2.5 year bareboat charter agreement with the Stena Group at a rate of $18,700 per day, which is equivalent to a time charter rate of approximately $24,500 per day. In addition, the bareboat charter with the Stena Group has a profit sharing component with a 30 percent share for Aries.

03 Nov 2005

Wärtsilä to Supply for Oil Drilling Ship

Wärtsilä will supply six engines for reportedly, the world's largest oil drilling ship. The 46 MW order, received in October, also includes ancillary equipment in addition to the engines. The vessel is being built by Samsung Heavy Industriels Co. Ltd. in Korea. Ordered by Stena Drilling Ltd, part of the Swedish Stena group, the vessel will be used for oil and gas exploration in the Norwegian and Barents Seas. Its completion is scheduled for the end of 2007.

28 Jul 2003

Concordia Leads Tanker Innovation

Concordia Maritime of the Stena Group has again taken the industry lead announcing firm contracts for four (with two options) for an innovative new series of 49,900 dwt tankers dubbed P-MAX. Croatia’s Brodosplit Shipyard was tapped for the job, with delivery of the first ship scheduled for 2005.. The P-MAX is an extension of the creative Stena MAX concept, which was the development of an advanced class of tankers with features to ensure safe operation in the world’s most sensitive waters. The 600- x 131-ft. (183- x 40-m) P-MAX ships are designed to have lower draft and higher speed than traditional, modern products tankers, and will offer 70,000 cu. m. of cargo capacity, almost 30 percent more than the 55,000 cu. m. of today’s largest MR vessels.