Sweden’s tanker owner Stena Bulk is plotting further expansion after becoming the majority shareholder in Golden Stena Baycrest Tankers (GSB).
Stena said it had acquired additional shareholding in Golden Stena Baycrest Tankers (GSB) from Bay Crest, becoming the majority shareholder in the joint venture.
GSB will remain jointly owned by the same three shareholders Stena Bulk, Golden Agri, and Bay Crest.
With majority control, Stena Bulk is expected to take a more active role in the strategic development of GSB, while continuing to work closely with its partners Golden Agri and Bay Crest.
Since its launch, GSB has built a solid reputation in the chemical and specialised tanker segment, with a strong operational and commercial track record, according to Stena, particularly in Asia and the Middle East.
With Stena Bulk becoming now the majority shareholder, the partners will further expand the fleet and contract coverage.
Erik Hånell, president and chief executive officer at Stena Bulk, said: “By becoming the majority shareholder in GSB, Stena Bulk is strengthening a platform that aligns closely with our long-term strategy in the chemical and specialised tanker segment.
“We look forward to growing the business together with Golden Agri and Bay Crest, building on the strong foundation we have created as partners.”
As informed, Golden Stena Baycrest will continue to operate from its bases in Singapore and Dubai.
