Print
PDF
Leading tanker shipping company Stena Bulk is entering into a new partnership with an as yet unnamed “prominent Gulf Co-operation Council (GCC) investment institution” for the operation of an undisclosed number of the company’s existing IMOIIMAX tankers.
The new partnership will provide for the GCC institution to become 50% owners of part of the company’s IMOIIMAX tanker fleet alongside Stena Bulk. The joint venture, established in collaboration with Tufton Investment Management in London, will open further institutional investment opportunities for both partners, a statement indicated.
Originally built between 2015 and 2018, Stena Bulk’s IMOIIMAX tankers are designed to carry IMO 2 and 3 cargoes, as well as clean and dirty products, ensuring a high degree of cargo flexibility. The vessels are all equipped with eighteen cargo tanks of a a maximum 3000 m³ capacity, as well as a nitrogen based inert gas system. The design was developed by Stena Bulk and Stena Teknik together with the Chinese shipyard GSI to have a minimised environmental footprint and optimised performance.
Andrew Hampson, CEO of Tufton Investment Management Limited, commented: “We are delighted to have facilitated this partnership between our long established GCC institutional clients and a company of the standing of Stena Bulk. We believe the excellence of Stena Bulk’s technical and operational capabilities represent an industry benchmark and we look forward to the success of the newly established partnership in the coming years.”
