Stena Bulk, a prominent figure in the tanker shipping industry, has unveiled a significant development today, marking a new partnership in the operation of its existing IMOIIMAX tankers. This strategic move involves a collaboration with a distinguished Gulf Co-operation Council (GCC) investment institution, elevating the prospects for both entities involved.
The partnership entails the GCC institution acquiring a 50% ownership stake in a portion of Stena Bulk’s IMOIIMAX tanker fleet. With this arrangement, Stena Bulk aims to leverage the expertise and resources of its new partner, thereby enhancing operational efficiency and market presence.
This joint venture, established in conjunction with Tufton Investment Management based in London, not only fortifies Stena Bulk’s position but also presents lucrative investment avenues for institutional players within the maritime sector.
Originally constructed between 2015 and 2018, Stena Bulk’s IMOIIMAX tankers boast a versatile design tailored for transporting IMO 2 and 3 cargoes, encompassing both clean and dirty products. The vessels are equipped with eighteen cargo tanks, each boasting a maximum capacity of 3,000 m³, supplemented by a nitrogen-based inert gas system to ensure cargo integrity.
Developed through collaboration between Stena Bulk, Stena Teknik, and the Chinese shipyard GSI, these MR tankers have earned accolades for their reliability and operational efficiency over the years. Noteworthy is Stena Bulk’s commitment to environmental sustainability, evident in the minimized ecological footprint and optimized performance of the IMOIIMAX tankers.
Erik Hånell, President & CEO of Stena Bulk, expressed enthusiasm about the newfound partnership, emphasizing the shared goal of maximizing the potential of IMOIIMAX tankers. He highlighted the collective efforts aimed at exploring new market horizons and delivering enhanced value to customers, underscoring a commitment to pushing boundaries in MR tanker performance.
Andrew Hampson, CEO of Tufton Investment Management Limited, echoed these sentiments, expressing delight in facilitating the partnership. He lauded Stena Bulk’s technical and operational prowess as an industry benchmark, expressing confidence in the partnership’s success in the years ahead.
This collaboration signifies a strategic alignment between Stena Bulk and institutional investors, poised to drive growth, innovation, and value creation within the maritime shipping landscape.
