Stena Bulk A/B and Golden Agri-Resources Ltd have set up a
new joint venture, Golden Stena Bulk. For a start, the 50-50 joint
venture will take over four product tankers ordered by Stena Bulk in
June 2012. The newly formed joint venture will also consider investing
in more product tankers in the future.The vessels will be deployed in Stena Weco’s logistic system in the
global market. Stena-owned Northern Marine Management will be
responsible for technical management.In June 2012, Stena Weco – the joint venture between Stena Bulk and
Danish Dannebrog – formed a 50-50 joint venture with GAR. The joint
venture, Golden Stena Weco, was aimed at providing an overall solution
for GAR’s international transportation of its palm oil products.“Golden Stena Bulk can be seen as the second step in our
collaboration with leading palm oil plantation company, GAR. For us,
it’s also a gateway to Asia,” says Erik Hånell, President & CEO of Stena Bulk. “Such strategic partnerships are a well-tried concept for us and
involve coordinating complementary assets, know-how and experience. With GAR’s robust network and intimate knowledge of the region, this
strategic partnership gives us greater access to the Southeast Asian
market as well as to local competence,” says Erik Hånell.Jesslyne Widjaja, Vice President of Corporate Finance of GAR, welcomes the new joint venture as a further collaboration with Stena Bulk. “With our rapid growth, it is critical that GAR achieves maximum synergies by collaborating with best-in-class shipping partners to secure the safe
and efficient transportation of our products,” concluded Ms. Widjaja.
SHIPPING NEWS
05 February 2013 - 21:03
Golden Agri-Resources, Stena Bulk Form Joint Venture
Stena Bulk A/B and Golden Agri-Resources Ltd have set up a new joint venture, Golden Stena Bulk.
SHIPPING NEWS
05 February 2013 - 21:03
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