Stena Bulk appoints New Director of Strategic Planning
Stena Bulk, a leading international tanker owner, controlling a fleet of over 70 tankers from offices in six countries, today announced the appointment of Arthur L. Regan to the position of Director, Strategic Planning and Tanker Projects for Stena Bulk worldwide. In his position, Mr. Regan will focus on expanding the scope and profitability of Stena’s global tanker investments. Regan will take up his new role from offices in Westport, Connecticut, USA.
Mr. Regan has been the President and Co-Chief Executive Officer of Arlington Tankers Ltd., the position he has held since the company’s inception and successful listing on the New York Stock Exchange (NYSE: ATB) through its 2004 initial public offering. Stena was the founder of Arlington Tankers Ltd and remains a shareholder in the company. Under Mr. Regan’s guidance at Arlington, the company grew its market capitalization to over $400 million and a fleet of eight modern tanker vessels. As one of the first public shipping companies created with a strategy oriented for income investors, Arlington has distributed some $93 million in dividends to shareholders since 2004.
In announcing his appointment, Ulf Ryder, President and Chief Executive Officer of Stena Bulk commented, “We are very pleased to have Art’s creativity and experience within Stena Bulk. Art possesses a broad range of competencies within the shipping industry. Arlington has been a very successful company since it was established, and we look forward to having Art back with us once again.”
Commenting on his appointment, Mr. Regan said “Stena is truly a first class global organization that thrives on new ideas and initiatives, and has the financial resources to establish and maintain leading positions in all its activities.”
Said Regan “I am especially proud to have overseen the public listing and development of Arlington Tankers, which to date has provided shareholders with a robust total return of over 50% of the IPO price during the eleven quarters since going public. And I look forward to a continued beneficial association with Arlington in my new role, in connection with Stena’s on going interests in the company.”
Art previously held executive roles within Stena Bulk between 1996 and 2004 in business development, chartering and commercial operations. Art’s early shipping career included sailing as a licensed Master Mariner during a ten year stint with the U.S. flag tanker fleet of Overseas Shipholding Group. Art holds a degree in Transportation Management from the State University of New York, Maritime College, and completed the Executive Education program in Finance at Harvard Business School in Boston. He is a North American Committee panel member of the classification society Det Norske Veritas.
For further information, please contact:
Ulf G. Ryder
President & CEO, Stena Bulk AB
Mobile: +46 704 85 50 01
Arthur L Regan
Mobile: +1 203 243 57 68