Shipowner giant Stena Bulk is adding four medium range MR tankers to its fleet with charter deals for newbuildings under construction in Hyundai Mipo.

On Wednesday, the Swedish outfit announced four long-term charter agreements with an unnamed Japanese owner.

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 8th generation MR tanker design, which has been recognised for its excellent efficiency performance.

The design enables fuel consumption of just 15 metric tons per day when laden at 13 knots. The vessels are also scrubber fitted to ensure global sulphur cap compliance.

This announcement is in line with the long-term charters of the Stena Convoy and Stena Conductor, which were delivered in 2022 to a South Korean yard and chartered from a Japanese owner, like these new additions to the Stena Bulk fleet.

Erik Hånell, president and chief executive, 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.”