Tanker shipping company Stena Bulk has inked long-term charter agreements for four newbuild eco Medium Range (MR) tankers.
The ships will be taken on five-year charters from an unnamed private Japanese shipowner major. 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, recognized for its efficiency. Namely, the design enables the vessels to consume just 15 metric tons of fuel per day when laden at 13 knots.
The vessels are also scrubber-fitted to ensure global sulphur cap compliance.
Stena Bulk said that when they were delivered, Stena Convoy and Stena Conductor became the most fuel-efficient MR tankers at sea. This news follows in the footsteps of Stena Bulk’s charter of Stena Convoy and Stena Conductor, which were delivered in 2022 from a South Korean yard and chartered from a Japanese owner, like these new additions to the Stena Bulk fleet.
“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,” Erik Hånell , President & CEO of Stena Bulk, said. Stena Bulk added that taking six long-term charters in total from Japan underscores the country’s importance in the company’s long-term and flexible fleet strategy.