In Stena Bulk we are very satisfied with the development of our Joint Venture with Proman Shipping, adding one more vessel into our joint venture. We see the strength in our joint commitment leading to new and exciting opportunities for us. It is in Stena Bulk´s objectives to contribute to making the shipping industry more sustainable. This joint venture is taking us in that direction with a partner whom we share many values that we believe will develop the shipping industry with new features driving improved performance and efficiency.
This is an opportunity to build on the already excellent work we have achieved with Stena in our joint venture, which is now a three-vessel programme for the industry-leading IMOIIMeMAX dual-fuel vessels. These new vessels demonstrate our commitment to leading the transition towards methanol as a reliable marine fuel and are an exciting development for us as vessel owners. The vessels’ state-of-the-art fuel consumption and engine technology represent an important step in the move towards more sustainable shipping. In making Stena Prosperous available to the general market for the transportation of chemicals, we seek to encourage other producers to gain experience with these innovative methanol-powered vessels and to benefit from the significant reduction in emissions that operating these vessels will deliver
Performing according to our customers’ expectations is our highest priority, and this setup allows us to continue to do that while also offering a service. It will be one way to take actions in meeting future requirements. This type of fuel is one step in many combined sustainable solutions that needs to be considered and can be used today.
We need to come together as an industry to find solutions that comply with future legislation. By working together, sharing experiences, risks and inspiring each other, we are convinced that we will meet the targets and ensure that shipping remains the most efficient and sustainable mode of transportation
The world’s need for reliable, innovative and sustainable transportation of liquid products is increasing and it will continue to do so as the world’s population grows and global living standards continue to improve
The plan is for the IMOFlexMAX vessels to be deployed in Stena Bulk’s logistics system in the global market along with the IMOIIMAX. The IMOFlexMAX vessels will constitute an important asset for Stena Bulk, as well as for its partners, in strengthening our position as the market-leading, cross-trading specialists in the MR segment with increased efficiency and reduction of greenhouse gases. The prototype is one step further in Stena Bulk’s vision of being our customers’ first choice for safety, innovation and performance in the transportation of oil, chemicals and gas
We like to show the industry that we can start reducing the carbon footprint of shipping here and now while maintaining highest quality technical and commercial operations. The Stena Immortal performed very well running on the biofuel while continuing to deliver according to our customers’ needs without any disruption
The industry needs pioneers willing to collaborate, share knowledge and push the development towards more sustainable shipping. We’re happy to collaborate with GoodFuels in this test to take on that mission and encourage others to join us. We are of course open and have a willingness to drive and take part of this development together with stakeholders in this industry.
We are delighted this test with Stena Bulk was a success and want to thank them for joining us in our mission to develop a carbon-busting solution that is scalable, truly sustainable, technically compliant and, crucially, affordable
By doing this test we want to contribute to push the industry and pave way towards more sustainable shipping. We want to be able to offer our customers additional options with less environmental impact in the future and by conducting the trial in normal operations we want to show that being sustainable doesn´t have to interfere with core business”
The pool is still based on shared values in quality and a long-term customer approach. “One of the goals is to expand the pool, through partnerships and external partners. The pool structure is constantly updated to meet the latest requirements of both external and internal factors to stay relevant and be an attractive option for owners to place their vessels.
The pool set-up has numerous advantages, such as gaining access to a larger market position and, in general, the ability to spread the risks arising as a result of fluctuations in a volatile market. Access to our global network with support and a high utilization rate as a result of our operational excellence are also important factors
We have been extremely successful and are one of the foremost, in comparison to both the index and other competing pools. Our pool has been the best-performing Suezmax pool for 12 of the past 15 years, which is largely a result of our customer focus where innovation, performance and quality are prioritized
GSI have a proven track record with their 13 previous IMOIIMAX vessels for Stena Bulk, and we are very pleased to have reached this agreement with them to build our pioneering new methanol tankers. Methanol is a readily available liquid fuel that meets the strictest emissions criteria, and it has huge global potential as a proven substitute for conventi
We from Stena Bulk are looking forward to being back in a well known shipyard to us, where we know that they will deliver what is expected: a high level of experience including care, innovation and performance. We are really looking forward to doing this with Proman, as a new high-caliber partner with similar values that we know will develop both ship design and some exciting new features in driving improved performance of the ships.
The proven energy-efficient credentials of the IMOIIMeMAX vessels, combined with the clean-burning and biodegradable qualities of methanol as a marine fuel, mean that these new Proman Stena Bulk vessels will be truly future-ready.
In just eighteen months since Proman Shipping’s foundation, we have made substantial advances and this Joint Venture with an industry leader is testament to that work. We are proud to be one of only three companies actively engaged in promoting Methanol as a marine fuel, through this partnership with Stena Bulk.
Proman is always seeking out new and innovative ways to use Methanol, and to maximise our fully integrated, diversified platform across the whole value chain, from the production and conversion of natural gas, to the marketing and delivery of end products to customers.
This is an exciting step for Proman Shipping, which sees us not only partner with a world-leading shipping operator, but also invest in the use of more sustainable marine fuels without compromising on efficiency. We are proud to be partnering with Stena Bulk, who share our commitment to innovation and to be pioneering the use of Methanol as a fuel of the future together
This is a new important stepstone for Stena Bulk. We are very satisfied to find a partner like Proman, which has many shared values, giving us this opportunity to enter into their future logistical ambitions.
In our history we have built our success with partnerships, a success that we are pleased to share with new partners with equal views and ambitions, leading to further development in our industry allowing new or upgraded innovations that make our industry more efficient and sustainable.
We as a global commercial tanker operator, have through our newly developed IMOIIMAX MR tanker fleet created our presence in the worldwide Methanol trade. With Proman as a new strategic partner, we are very satisfied that all our hard work is coming to fruition not only meaning that we can support a very important customer but also create a new joint venture together that we put high value on in respect of culture and vision, taking us a few steps into the future with the ships we will now build together.
We evaluated the different options and came to the conclusion that for our business by installing scrubbers we will secure greater availability of fuel for our vessels and by so limit our exposure to not finding the right fuel around the world and by that stay flexible in our trading. Even doing so we know it will require some changes and probably massive challenges in the planning logistically. We will however prepare ourselves best possible so that we can secure at least the same level of support to our customers as today
Utilization of and entry into the chemicals market has gone better than expected, and we have secured a good market position that we are continuing to build on. We have achieved this through not only our hard work in marketing, but also through operational performance
It's now been just over four years that since we took delivery of our first vessel in the IMOIIMAX series and the vessels have performed beyond our expectations. Both the technical and the commercial concepts have proved to be very successful and have set a new standard for cargo efficiency and bunker consumption. The IMOIIMAX fleet is a significant and competitive addition to our high-quality fleet. At the same time, it is an important step forward and a development of our existing sophisticated trading system
The vessels perform well in terms of speed and bunker consumption. Additionally, in respect of loading, transport, discharging and tank cleaning, it has technically performed above expectations
On the whole the pirate situation in the Gulf of Aden has calmed down and there have not been any hijackings for a long time. But when we sail off the coast of Yemen we choose to use guards due to the lawless state prevailing in the country at the moment. This has created the same kind of desperation in the population as we saw in Somalia a number of years ago. But we are monitoring the situation closely via our security department, which also keeps an eye on the situation in general on the global level. For us it is extremely important to take the measures that are required so that the crew feel safe, and that we at the same time follow the local regulations
The crew onboard the Stena Imperial acted in a very professional manner during the incident and worked closely with the security team to resolve the situation as safe as possible. We put a very high value on our crew and always make sure that they are provided the proper training to be able to handle all sorts of situations in a calm and professional way. A well trained crew working together with a security company when transiting these areas also makes us as owners feel secure about their safety onboard
By installing scrubbers, we will be well equipped to meet the 2020 regulation and are protected from price volatility as well as fuel shortage. In relation to market developments, today’s market predictions are attractive in theory and currently seems to be so in practice too, despite there being a couple of parameters that remain uncertain. However, there are opportunities already available today to lock in some of the uncertainty, which might be appealing when looking for a more secure investment. We are very happy to be able to confirm this order with Bluesoul, which has performed very well in terms of quality compared with more reputable manufacturers
We are very pleased to announce the partnership with the successful and well-positioned Japanese company Bay Crest Management. Forming strategic partnerships in this way is for us a well-tried concept, coordinating complementary assets, know-how and experience. It also makes it possible for us to take a deeper step into a market we have strong belief in for the future. I am certain there will be spin-off effects for all partners, with new business opportunities as well as broadening exposure and presence in various business areas
After six very successful years operating and managing intermediate-sized chemical tankers, Golden-Agri Stena aspires to enhance its involvement in the chemicals cargo trade through operating and managing stainless steel tankers. Bay Crest offers excellent experience and network for us to jointly attain the aspiration
Riding on prior success in managing stainless steel chemical tankers in the region, Bay Crest Management is keen to further extend its footprint internationally. The good brand name of Golden-Agri Stena, coupled with its extensive experience in trading vegetable oil and clean petroleum products, makes them an ideal equal partner for achieving our ambition
We have a long-standing, highly-valued relationship with Petrobras when it comes to both Suezmax and MR tankers and we are committed to continue to provide them with safe and efficient deliveries. We also hope to expand our relationship in the future
As part of our business strategy, we continue to cater for Petrobras’ shipping requirements as a preferred customer and logistical partner of Stena Bulk. Over the years we have developed a close working relationship and our latest commitment of time chartering out the Stena Conqueror and the Stena Conquest are good examples of our continued efforts of supporting Petrobras throughout their supply chain
Being ‘first in China’ is a very rare title and we are all proud we participated in such an event. Each one of the operations was distinct as each piece of terminal equipment was being operationally used for the first time. It took resourcefulness, patience and a problem-solving attitude, but it was a successful operation
Events of this nature are subject to international laws and for us, acting in accordance with these laws is a matter of course. Nevertheless, it is important that attention is drawn to them – in this case, by the Chamber of Shipping of America. I would also like to take the opportunity to express my appreciation to our crew on board for having acted professionally and in accordance with our expectations in this situation
In what has generally speaking been a stable low market, we have recently seen opportunities to utilise our business model in the current market. With our successful commercial management, we believe, despite continuing rather difficult conditions, that we can make a positive difference and have thus now chartered in six vessels. We are in a good position to expand our pool to about 30 Suexmax tankers and expect to do so with the help of partners and chartered tonnage. We are continuously evaluating the market and acting accordingly
We now have a relatively long history, when it comes to our joint pool, with a long-term partner. The pool arrangement has many advantages, not only logistic, but mostly, the biggest reason, which includes having a larger market position and, in general, an opportunity to spread the risks resulting from the fluctuations in a volatile market. Opportunities are as well arising from joint developments with a partner with shared views. Access to our global coverage with support and a high utilisation rate due to our operational excellence are also important factors
We have been extremely successful and are one of the leaders when it comes to earnings, both compared with the index and with competing pools and Suezmax fleets
It was exactly three years ago that we took delivery of our first vessel in the IMOIIMAX series and the vessels have performed beyond our expectations. Both the technical and the commercial concepts have proved to be very successful and have set a new standard for cargo efficiency and bunker consumption. 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. At the same time, it is an important step forward and a development of our existing sophisticated trading system
With the last vessel now delivered, I would like to take the opportunity to thank the shipyard GSI for fantastic collaboration with Stena Teknik during the development of the technology and during the three long years of production
This ship naming ceremony using available technology is a sign of the times. Our goal is greater efficiency in everything we do and, accordingly, a digital naming ceremony symbolises a measure of sustainability, efficiency and new technology. This is what we are striving for and we want to be at the forefront of this process
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. This and other adjustments will result in a clearer structure as regards our business and organisation
After many years working with, among other things, the creation and development of the successful Sonangol pool, I am looking forward to taking greater responsibility in this business area
I have held a leading position at Stena Weco since it was started up 6,5 years ago and I am happy to have a key role in the incorporation of the two companies’ business into a single business
It was a spectacular sight with the two sister tankers beside each other and the somewhat unusual situation as such made the naming ceremony a bit special and extra festive. We are now approaching the final delivery of our large order consisting of 13 IMOIIMAX tankers. We are very proud of and satisfied with our fleet, which now consists of ten units in operation. Both the technical and the commercial concept have proved to be very successful
The Port of Rotterdam is the largest port in Europe and our fleet often calls there. That’s why we also have many business contacts there and we took the opportunity to gather them in conjunction with this naming ceremony
We are convinced that the tanker industry will change drastically in the future. To prepare for this we have a team of people working fulltime to make sure that we are fully aware of what is happening in the world, how it will affect us, and lead the company in a transformative way. One important aspect of this is the transformative power of digitalization. We need to stay up to date on different technologies and how to use them
We think, however, that Blockchain will affect us and that it has the potential to revolutionise the tanker industry in terms of making the business process safer and more efficient. We will definitely not stand still just waiting for that to happen
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. The naming ceremony gives us the opportunity to further reinforce our image and forge more contacts with customers, partners and suppliers in the region
As both owner and operator, Stena Bulk is exposed to all areas of tanker shipping and thus has a twofold responsibility to be at the forefront of developments. We have long focused on technical development and have created solutions both on board and ashore that have raised awareness. But it has also been important to not only focus on technology for reducing bunker consumption but also to work with a commercial focus on using fuel more efficiently. Since it was implemented in 2012, our Energy Management system has increased our fuel efficiency by 20%; this is equivalent to 30,000 mt of fuel and savings of 100,000 mt as regards CO2 emissions. In recent years, our leading role when it comes to digital technology has taken us even further and we are currently working with tools that will enable us to predict the market in different ways. With new platforms, we are now transforming shipping as regards efficiency and transparency
We are very proud of this award and we thank everybody who voted for us and for recognising our work in this important area