Stena Bulk and Concordia order new design chemical tankers at Guangzhou Shipyard

Stena Weco 340JULY 6, 2012 — Stena Bulk and Concordia Maritime have ordered up to ten innovative, in-house designed 50,000 dwt chemical tankers. They will be built at Guangzhou Shipyard International (GSI) in China with deliveries beginning from spring 2014. If all options are declared, the order will be worth $400 million. Initially, four ships are being built for Stena Bulk and two for Concordia.

The ships are being built to cover increasing demand for transportation capacity within the successful Stena Weco Pool.     

When delivered, the vessels will be the most sophisticated in the Stena Bulk and Concordia Maritime fleet.

"To challenge today's fierce competition within the tanker segment, we must invest in the higher end of the market," says Ulf Ryder, President and CEO of Stena Bulk. "These ships will have an outstanding competitive edge both in the edible oil, chemical, and in clean tanker markets."

"This is a logical step in the development of our business and fleet, to invest in vessels with very good fuel efficiency and with outstanding cargo flexibility. They will be operating in the segment where we have our main focus and where we believe there is a very good growth potential," says Hans Norén, President of Concordia Maritime.

The ships are designed to meet the chemical tanker market's demand for flexibility. Ships must be able to carry a wide range of cargoes in smaller parcels, giving a higher freight per ton. Also important is the ability to quickly switch between various types and grades of cargoes.

"Our engineers have together with Guangzhou Shipyard succeeded in obtaining probably the most innovative Eco tankers existing with completely new hull lines, specially designed propellers, and many more topics which could mean a competitive advantage of some $3,000-5,000,- daily when it comes to cargo flexibility and fuel economy," says Mr.Ryder.

"It is with great pleasure we are now getting a new, specially designed fleet optimized for our cargo contracts within the Stena Weco Pool," says Erik Hånell, Managing Director of Stena Weco. "It is very stimulating that our owners and partners believe in what we have created so far and order these ships that will be commercially managed by Stena Weco."

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