STOCKHOLM, Sweden--(Business Wire)--
Regulatory News:
Stena Bulk and Sonangol have expanded their shipping collaboration
and are now also operating a pool with Panamax tankers. These vessels
transport crude oil and petroleum products in Atlantic trade as well
as sailing in a round-the-world service. Initially, the pool consists
of five Panamax tankers but the aim is to expand it over the next few
years to ten vessels by means of purchases or charters.
"This new venture is a direct spinoff from the successful
collaboration involving a Suezmax pool, which Stena Bulk and Sonangol
have been operating for some years. The aim is the same - to enhance
efficiency and thus increase revenue", says Ulf G. Ryder, President
and CEO of Stena Bulk. "In addition, we will also continue to offer
training and education for both Stena and Sonangol seagoing and
shore-based personnel", continues Ulf G. Ryder.
The Suezmax pool, which was started up in 2005, currently consists
of 13 vessels, both owned and chartered. The new Panamax pool is a
further development of the same concept but in another market segment.
The head office for the pool is located in Stena Bulk's Houston,
Texas, headquarters although the group's other offices all over the
world are also involved.
"The newly started Panamax pool effectively raises the service
level for our customers including our refinery in Luanda, Angola",
says Mr Baptista Sumbe, Executive Chairman of Sonangol, USA. Sonangol
USA is a wholly-owned subsidiary of the Angolan state oil company,
Sonangol EP. Angola currently produces more than 1.9 million barrels
of crude oil per day. www.sonangol.co.ao
With offices in six countries, Stena Bulk is one of the world's
leading tanker shipping companies, supplying customers with innovative
solutions to their transportation and logistics requirements and
using, for example, its own technical design department. The company
has a regulated fleet of approximately 70 tankers and operates
throughout the tanker market. Stena Bulk is also responsible for
marketing and operating the Concordia Maritime fleet. Stena Bulk is
part of the Stena Sphere. The Stena Sphere is in excess of 16,000
employees and revenue of SEK 46 billion. www.stenabulk.com and
www.thenewsmarket.com/stenabulk
This information was brought to you by Cision
http://newsroom.cision.com
Stena Bulk AB
Ulf G Ryder
President & CEO
Mobile: +46 704 85 50 01
or
Kim Ullman
Executive Vice President & COO
Mobile: +46 704 85 50 03
or
Klas Eskilsson
Vice President & Head of Stena Bulk, USA
Mobile: +1 832 863 6536
or
Sonangol USA
Mark Heater
Executive Vice President
Phone: +1 281-920-7623
Copyright Business Wire 2008
