Stena Bulk is adding four MR tankers to its fleet with charter deals for newbuildings under construction in South Korea.
On Tuesday, the family-backed Swedish outfit announced four long-term charter agreements with an unnamed large, private Japanese owner.
Two of the vessels are set for delivery in 2025 and two more in 2026.
CEO Erik Hanell said the strong time charter market is forcing the company to “think differently” on how to expand its 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,” he said.
“The market-leading sustainability performance of these vessels will help to underpin our sustainability strategy, but the stability these long-term deals afford will create assurance for our customers globally.
“We look forward to continuing to work pragmatically in the coming months and years, leaving no stone unturned in our pursuit to create a truly market-leading tanker fleet.”
According to shipbroker Howe Robinson, as of Monday, a one-year MR deal commands a daily rate of $32,000, while a three-year agreement is priced at $25,000 per day.
Stena Bulk said all four ships are being built at Hyundai Mipo Dockyard and will be named the Stena Continent, Stena Conquest, Stena Contender and Stena Concept.
The company connected the deal for those ships with the 2022 agreement it made with Imabari-based Nissen Kaiun for the 50,000-dwt Stena Convoy and Stena Conductor (both built 2022).
It said from the time of their delivery that both vessels were the most fuel-efficient MRs at sea.
Stena Bulk, part of the larger Olsen family-owned Stena AB company, currently owns 19 ships according to Clarksons, all tankers except for three LNG carriers.
Stena AB has 77 ships overall, largely ro-ros operated via its Stena Line subsidiary.
