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Stena Weco News

15 Nov 2021

Industry Veteran Ullman to Retire; Lewenhaupt tapped for CEO spot at Concordia Maritime

Kim Ullman, CEO of Concordia Maritime. Photo courtesy Concordia Maritime

Erik Lewenhaupt will take over as CEO of Concordia Maritime on January 1, 2022, succeeding Kim Ullman, who informed the Board his wish to step down as CEO and retire.Lewenhaupt has a long track record in tanker shipping. He started his tanker career at Nordström & Thulin in 1996, and was later recruited to Stena Bulk, where he was tanker chartering manager in both Gothenburg and Singapore. His most recent position has been Head of Sustainability at Stena Line, where he has been…

25 Feb 2020

Top Ships Sells Stenaweco Elegance

Greek ship-owning company Top Ships Inc. announced the completion of sale of MT Stenaweco Elegance.According to a press note from the owner and operator of modern, fuel efficient "ECO" tanker vessels, its previously announced sale of tanker was concluded.The vessel was delivered to its new owner, an unaffiliated third party, and the respective loans for which the vessel was a collateral for were fully prepaid.Few days ago, the Greek tanker owner sold its 50% owned MR2 chemical/product tankers  M/T Holmby Hills and M/T Palm Springs.The vessel sales are subject to customary closing conditions and are anticipated to be concluded during March 2020, said Top Ships.

10 Feb 2020

Top Ships Adds M/T Eco Los Angeles

The international owner and operator of modern, fuel efficient "ECO" tanker vessels Top Ships announced that it took delivery of the 50,000 dwt scrubber fitted newbuilding M/T Eco Los Angeles.The product/chemical tanker constructed at the Hyundai Mipo shipyard in South Korea.Meanwhile, the Greek tanker owner has recently entered into agreements to dispose of an MR2 tanker pair.The ships, Stenaweco Elegance and Eco Palm Desert, have been sold to unaffiliated third parties.

29 Sep 2019

Hafnia Buys 2 Tankers from Gestion Maritime

BW Group-owned product tanker owner and operator Hafnia has acquired two 2015-built medium range product tankers from Gestion Maritime.The acquired vessels are the StenaWeco Andrea Corrado and StenaWeco Caterina Corrado, which were built by Hyundai Mipo Dockyard. Hafnia said the duo is expected to be delivered by October/November 2019.Meanwhile, Hafnia recently entered into an agreement to sell Hafnia Atlantic, a 2004-built Liberia-flagged Medium Range product tanker.The sale is in line with the company’s broader fleet renewal strategy. Hafnia Atlantic was delivered to her new owner on 11 September 2019.On 24 September 2019, Hafnia signed a USD 473 Million senior secured term loan and revolving credit facility to refinance its existing USD360 Million facility and USD236 Million facility…

17 Jul 2019

TOP Ships Gets Loan for a Tanker

Top Ships, a provider of oil, petroleum products and chemicals transportation services, has concluded a financing agreement with an undisclosed Chinese financier to refinance one of its MR2 tankers.The  Greek tanker owner and operator said in a press release that the gross proceeds from the new financing amount to $25.6m and will be used mainly to refinance the facility of M/T Stena Weco Excellence with Nord LB.The tenor of the new facility is 10 years, it added.The company also announced that it intends to enter into 2 additional Financing Agreements with the same financier at similar terms, in order to exercise its purchase options for the M/Ts Stena Weco Energy and Stena Weco Evolution.

01 Feb 2018

GSI Completes 13-vessel Series for Stena Bulk

The Stena Impero naming ceremony ended with confetti (Photo: Stena Bulk)

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.

10 Jan 2018

Concordia Maritime Charters Two More MR Vessels

Swedish tanker owner Concordia Maritime has chartered in two more MR (ECO) vessels, while also extending the contracts for two of the currently chartered MR (ECO) vessels by a further year. A contract to charter out the P-MAX tanker Stena Performance has also been signed. The contractual partner is a large global oil company and the vessel will be used primarily for niche traffic in the Middle East. As with previous charters, these latest contracts are joint charters with Stena Bulk, and Concordia Maritime’s share amounts to 50 percent. The vessels will be operated by the successful MR pool within Stena Bulk Product & Chemicals (formerly Stena Weco). The contract for Stena Performance is for six months, with an option for a further six months, and runs from January 2018.

04 Jan 2018

Top Ships Gets TC Extension for Four Vessels

TOP Ships, an international ship-owning company, announced that it has extended the time charter agreements with Stena Bulk AB (ex Stena Weco AS) by 12 months for M/T Stenaweco Energy and M/T Stenaweco Elegance and by 18 months for M/T Stenaweco Evolution and M/T Stenaweco Excellence. The Company expects a total gross revenue backlog associated with these time charter extensions of $27.4 million.

13 Nov 2017

Major Revamp at Stena Bulk

Stena Bulk is reorganising its business activities into three business areas: Crude & Fuel, Products & Chemicals and LNG and have appointed two new managing directors. At the same time, its business activities previously conducted under the name of Stena Weco are being coordinated and incorporated into Stena Bulk. Additionally, a new office in Copenhagen will be opened in the next few days. As a result, the company will leave its office in Rungsted, which until now has been used by Stena Weco. “This is a natural transition from the old structure to the new one where we now have total control over our business involving product and chemicals transportation in the MR segment.

29 Jun 2017

MR Tanker Stena Impeccable Named in Rotterdam

Henk Roskamp, Managing Director RVB Shipbrokers, Frank Verbunt, Spouse to Godmother, Godmother Trijntje Margaretha Oosters of RVB Shipbrokers, Johnny Schmolker, Deputy Managing Director Stena Weco, Master of Stena Impeccable Vinay Singh, Erik HĂĄnell, President & CEO Stena Bulk. (Photographer: Silverbullet)

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.

05 Jun 2017

TOP Ships Buys Stake in M/T Stenaweco Elegance

Ship owner TOP Ships Inc. said it will purchase for $6.5 million an additional 41 percent interest in Eco Seven Inc., a Marshall Islands company that owns M/T Stenaweco Elegance, a 50,188 dwt medium range (MR) product tanker, which is operating under a three year time charter at a rate of $16,500 per day expiring in March 2020. 49 percent ownership interest in M/T ECO Holmby Hills, a 50,000 dwt newbuilding product/chemical tanker scheduled for delivery from Hyundai Mipo Dockyard Co. Ltd. 100 percent ownership interest in M/T ECO Palm Desert, a 50,000 dwt newbuilding product/chemical tanker scheduled for delivery from Hyundai in July 2018.

21 Apr 2017

Concordia Maritime Charters Two MR Tankers

Concordia Maritime has signed a contract for the chartering of two IMO2/3 class MR tankers. This a joint chartering arrangement with Stena Weco, and Concordia Maritime’s share amounts to 50 percent. The contract is for one year, and the charters run from June and July 2017. The vessels were built in 2013 and are ECO-design tankers. They will be operated by Stena Weco, which has a fully integrated global logistics network for the transportation of petroleum products, light chemical and vegetable oils. The overall fleet comprises about 60 MR vessels. “The arrangement is fully in line with our fleet and chartering strategy. We are exploiting…

19 Apr 2017

Stena Imagination Named in Dubai

Carl-Johan Hagman, Chairman of the Board, Stena Bulk; Jin Lichao, Vice President, GCI; Godmother Lourdes Torgersen, Jan Torgersen, Zhang Dalei, Deputy Director of European Department, CSTC; Li Hongmei, Deputy Director of Business Development, GSI; Erik HĂĄnell, President and CEO, Stena Bulk. (Photo: Silverbullet)

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.

10 Mar 2017

Stena Bulk Takes Control of Stena Weco

Erik HĂĄnell (Photo: Stena Bulk)

Stena Bulk has agreed to purchase the remaining 50 percent of the shares in Stena Weco from its partner WECO Shipping. Stena Weco will thus be wholly owned by Stena Bulk. Stena Weco’s head office will remain as it is today in Denmark in addition to the regional offices in Singapore, Dubai and Houston. Within the agreement between Stena Bulk and Weco, WECO Shipping will continue to run their controlled fleet in the Stena Weco logistic system. Stena Weco currently operates around 65 vessels, about half of which are owned and half chartered.

09 Mar 2017

Stena Impeccable Delivered to Stena Bulk

Stena Impeccable (Photo: Stena Teknik)

Sten Bulk has taken delivery of Stena Impeccable, the 10th of 13 new IMOIIMAX tankers ordered from Guangzhou Shipbuilding International (GSI) in China.   The tanker, which is wholly owned by Stena Bulk, will be operated by Stena Weco and will sail in the company’s logistics system, which currently employs more than 60 vessels.   The chemical and product tanker Stena Impeccable has a length of 183 meters, a beam of 32 meters and a deadweight of 50,000 tons.

10 Jan 2017

MR Tanker Stena Immaculate Named in China

Guests at the Stena Immaculate’s naming ceremony (Photo: Stena Bulk)

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…

09 Dec 2016

Stena Weco Opens Office in Dubai

William Stranne, Manager Chartering and Aayush Giri,  General Manager are now based in Dubai (Photo: Stena Weco)

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.

04 Oct 2016

Concordia Maritime Sells IMOIIMAX Tanker

Stena Image (Photo: Concordia Maritime)

Concordia Maritime is selling the IMOIIMAX tanker Stena Image to a large Japanese financial institution. The transaction is a sale and leaseback agreement, which in this case means that the vessel will be chartered back to Concordia Maritime on a bareboat basis (i.e., without crew) for eight years, with annual purchase options from year four onwards. The sale price is $37.5 million and delivery to the buyer is scheduled for mid-October. “Through this transaction, we have simultaneously accomplished goals of strategic and financial importance to the company.

15 Sep 2016

IMOIIMAX Tanker Stena Immortal Delivered

Stena Immortal (Photo: Stena Bulk)

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.

15 Jul 2016

MR Tanker Stena Imagination Delivered

Photo: Stena Bulk

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.

15 Jun 2016

Danish Princess Names Stenaweco Impulse

Photo: 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.

03 Jun 2016

Danish Princess to Name Stenaweco Impulse

Stenaweco Impulse (Photo: Stena Weco)

The newly constructed chemical and product tanker Stenaweco Impulse will be named by her godmother H.R.H. Crown Princess Mary of Denmark at a June 13 ceremony on Langelinie Quay in Copenhagen. The Stenaweco Impulse is the sixth in a series of 13 IMOIIMAX tankers ordered by Stena Bulk. The vessel is owned by Stena Weco in a joint venture between Swedish Stena Bulk and Danish Weco Shipping. It was built by the Chinese Shipyard GSI (Guangzhou Shipbuilding International). The vessel’s technical design…

18 May 2016

Ardmore Shipping Opens Houston Office

Holly Cummins (Photo: Ardmore Shipping)

Ardmore Shipping has expanded its global network with the opening of an office in Houston, to be led by Holly Cummings, who joins Ardmore Shipping as Chartering Manager (Americas). The new Houston office will be responsible for expanding Ardmore’s commercial activities in the Americas and will work with Ardmore’s chartering teams in Europe and Singapore. Cummings joins Ardmore with 11 years of experience in the maritime sector, most recently in MR Chartering for Stena Weco and prior to that in operations for StenaBulk/StenaSonangol Suezmax Pool and for Morgan Stanley as Commercial Operator.