Golden Agri-Resources and Stena Bulk form joint venture
Stena Bulk A/B (“Stena Bulk”) and Golden Agri-Resources Ltd (“GAR”) have set up a new joint venture, Golden Stena Bulk. For a start, the 50-50 joint venture will take over four product tankers ordered by Stena Bulk in June 2012. The newly formed joint venture will also consider investing in more product tankers in the future.The vessels will be deployed in Stena Weco’s logistic system in the global market. Stena-owned Northern Marine Management will be responsible for technical management. In June 2012, Stena Weco – the joint venture between Stena Bulk and Danish Dannebrog – formed a 50-