Tanker shipping company Stena Bulk is expanding its eco-friendly fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.
Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025. Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All vessels are set to use the South Korean yard’s latest eighth generation MR tanker design, which has been recognised for its excellent efficiency performance.
Hyundai Mipo’s design will enable low fuel consumption, consuming just 15t of fuel per day when laden at 13 knots. Stena Bulk says that this efficiency will help to underpin its commitment to environmental sustainability while maintaining optimal performance. The vessels will be scrubber fitted to ensure Global Sulphur Cap compliance.
This news follows in the footsteps of Stena Bulk’s success with Stena Convoy and Stena Conductor, which were delivered in 2022 from a South Korean yard and chartered from a Japanese owner, like these new additions to the Stena Bulk fleet. When they were delivered, Stena Convoy and Stena Conductor were considered the most fuel-efficient MR tankers at sea. The announcement also strengthens Stena Bulk’s ties to the Asia Pacific region, as all vessels are owned by one of the largest private shipowners in Japan. Taking six long-term charters in total from Japan into the Stena Bulk fleet underscores the country’s importance to the organisation’s long-term and flexible fleet strategy.
Erik Hånell, President and CEO, Stena Bulk, said: “Our long-term fleet expansion strategy always requires us to act flexibly and intelligently with the best interests of our customers at the forefront. The current landscape of costly short-term time charters means we need to think differently, which is why we are proud to sign these four long-term newbuild charter deals. The market-leading sustainability performance of these vessels will help to underpin our sustainability strategy, but the stability that these long-term deals afford will create assurance for our customers globally. We look forward to continuing to work pragmatically in the coming months and years, leaving no stone unturned in our pursuit to create a truly market leading tanker fleet.”
Image: Stena Bulk logo (Stena)
