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Stena&Sonangol' Growing orders

Stena&Sonangol' Growing orders
Stena Bulk, which recently confirmed the order at Samsung Shipyard for two in-house designed Suezmax tankers for delivery in 2011, has now placed further orders together with partners and the Angolan oil company Sonanagol.

Stena Bulk and Sonangol Pool of Tankers Growing With More Orders for Ultramodern Tankers.

Stena Bulk, which recently confirmed the order at Samsung Shipyard for two in-house designed Suezmax tankers for delivery in 2011, has now placed further orders together with partners and the Angolan oil company Sonanagol. The first two vessels, to be named Stena Superior and Stena Suède, have been designed with the help of Stena"s own design department in accordance with the most advanced technology available today. The result is dramatically improved energy efficiency, which will, among other things, reduce fuel and bunker consumption by up to 15 percent compared with most efficient, conventionally designed Suezmax tankers currently in operation.
Stena Bulk and Samsung have confirmed that options on a further four vessels in the series have been signed, which means that the newbuilding order with Samsung Shipbuilding has been increased to a total of six tankers with delivery of the units now added set for the end of 2012.

?Stena Bulk have been patient in viewing the markets these past couple of years, which has proven to be correct. And we have taken the time to integrate our proven track record for innovative tanker design by creating the most environmentally friendly large tanker of its size, with minimal fuel consumption, available today?, said Ulf G. Ryder, President & CEO of Stena Bulk.

?The order for these six vessels will all be excellent additions to the Stena Sonangol Suezmax Pool?, Mr. Ryder continued. ?The pool, which is in the premium class of the operating tanker pools, will now further cement its lead with an emphasis on new and environmentally friendly tankers?.

This news follows on Sonangol"s announcement of the company"s order for five new 160,000 dwt tankers from DSME Shipbuilding in South Korea. These tankers are expected to be delivered from mid-2011 to the beginning of 2013. Sonangol has also confirmed that the five new tankers will immediately enter the Pool on delivery.

This means that the Stena Bulk and Sonangol partnership will bring up to twelve high quality ultramodern Suezmax tankers to their Pool.
Stena"s close collaboration with Sonangol, the national shipping company of the West African oil producing nation Angola, is entering its sixth year of successful operation with the aim of building up a total fleet of 25 new and ultramodern Suezmax tankers with an average age of only 3 years. In the last 12 of 16 quarters, the Pool has posted the best revenues of all the competing Suezmax pools as well as topping the index.

In addition, the venture appears to be poised for further growth with several quality owners with new Suezmax tankers applying to become members.
The operation and chartering of the Stena Sonangol Suezmax Pool is run from Stena Bulk"s offices in Houston, London and Singapore. And last month, the joint venture celebrated the addition of their newest representative office opening in Rio de Janeiro, Brazil.
Finally, Stena Bulk also announced that as part of its ambition to modernize the fleet, three of the older vessels in the pool, the Nordic Voyager (built 1997), the Nordic Jupiter (built 1998) and the Nordic Freedom will be returned to their owner, Nordic American Tankers, within short.


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