Stena AB

Stena bulk

Stena Bulk is one of the world’s leading tanker operators, offering safe and cost-effective transportation of crude oil and refined petroleum products by sea. This requires a holistic perspective – from development and construction to crewing and chartering of first-class tankers.

Delivery of the next generation of product tankers

Positive market development

2015 was characterised by very favourable rates in the spot market. Declining oil prices brought improved profitability and increased demand for tanker transportation, particularly in the Suezmax segment, but also in the MR segment. Stena Bulk also benefited from a slower growth rate in the world fleet. The company’s fleet is efficient and flexible, which has been conducive to good business.

Efficient fleet

Stena Bulk took delivery of four1) IMOIIMAX vessels from Guangzhou Shipyard International in China in 2015. Since delivery, the vessels have been employed in trading in vegetable oils, chemicals and petroleum products. In addition to the six IMOIIMAX vessels ordered but not yet delivered, Stena Bulk also ordered three more in 2015 for delivery in the period 2017–2018.

The great advantage of the ­IMOIIMAX vessels lies in their unique flexibility, both in terms of loading and discharging and the products that can be transported.

The LNG market deteriorated significantly on the back of falling oil prices. Stena Bulk operates vessels in the LNG segment in an efficient and safe manner. The oversupply of LNG tankers in the market has presented a major challenge.

Well functioning partnerships

Stena Weco has developed well and its efficient transport systems, with many long-term contracts, together with very strong daily rates made the company very profitable during 2015. The fleet currently consists of 60 vessels.

Golden Stena Weco focuses on unique trading in vegetable oils, chemicals and refined products. The cooperation with Golden Agri-Resources continued to be successful.

Stena Sonangol Suezmax Pool, which celebrated its ten-year anniversary in 2015, is functioning very well. There is solid trust in the brand which means that a growing customer base can now take advantage of good long-term relationships.

1) Of which two to Concordia Maritime AB

erik hånell

CEO, Stena Bulk

It is my assessment that freight rates will remain high over the next year, but that 2017 will be more uncertain due to the new vessel deliveries, particularly Suezmax and VLCC. However, Stena Bulk is well-positioned and sees various opportunities for interesting solutions in our vessel deployment for 2016–2018. We monitor the shipping and shipbuilding market to ensure we are in a position to place new shipbuilding orders when the right situation arises. In the long term, we see a need to increase the vessel fleet within the main segments in which we operate, but also in other segments that need high-quality logistics solutions.

IMOIIMAX Stena Imperial

Naming ceremony in Savannah, Georgia, 31 August 2015. Godmother was Kari McCormick.
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