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Wednesday, April 17, 2024

Stena Bulk Inks Deal for Four Additional Newbuild Tankers

Maritime Activity Reports, Inc.

February 13, 2024

Erik Hånell, President and CEO of Stena Bulk (Credit: Stena Bulk)

Erik Hånell, President and CEO of Stena Bulk (Credit: Stena Bulk)

Swedish shipping company Stena Bulk has expanded its fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.

Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025.

Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All vessels are set to use the South Korean yard’s latest 8th generation MR tanker design, which has been recognized for its excellent efficiency performance.

The tankers will feature efficient fuel consumption systems, consuming just 15 metric tons of fuel per day when laden at 13 knots.

This will help underpin Stena Bulk’s commitment to environmental sustainability while maintaining optimal performance. The vessels are also scrubber fitted to ensure Global Sulphur Cap compliance.

The news follows in the footsteps of Stena Bulk’s success with Stena Convoy and Stena Conductor, which were delivered in 2022 to a South Korean yard and chartered from a Japanese owner, like these new additions to the Stena Bulk fleet.

When they were delivered, Stena Convoy and Stena Conductor became the most fuel-efficient MR tankers at sea, according to Stena Bulk.

“Our long-term fleet expansion strategy always requires us to act flexibly and intelligently with the best interests of our customers at the forefront. The current landscape of costly short-term time charters means we need to think differently, which is why we are proud to sign these four long-term newbuild charter deals.

“The market-leading sustainability performance of these vessels will help to underpin our sustainability strategy, but the stability that these long-term deals afford will create assurance for our customers globally,” said Erik Hånell, President & CEO of Stena Bulk.

The addition of newbuilds also strengthens Stena Bulk’s ties to the Asia Pacific region, as all vessels are owned by one of the largest private shipowners in Japan. This marks the sixth long-term charter in total from Japan into Stena Bulk fleet.

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