Stena Bulk hires two eco MR newbuilds

Tanker shipping company Stena Bulk is taking two brand new eco Medium Range (MR) tankers on long-term time charter from unnamed Japanese partners.

The two MR tankers are being built at Hyundai Mipo Dockyard in South Korea and are scheduled for delivery in the first half of 2022. The 50,000 DWT vessels are being fitted with scrubbers to ensure compliance with IMO 2020.

To be named Stena Convoy and Stena Conductor, the ships will form part of the five newbuilds that Stena Bulk is expected to receive on charter in the first half of 2022 and will be nearly 20% more fuel-efficient than the first generation of eco vessels.

“When delivered, the two ships will be the most fuel-efficient MR tankers at sea,” the company said.

The news follows the recent announcement that in early 2022 Stena Bulk will also take delivery of IMOIIMeMAX methanol-fuelled 49,900 DWT vessel Stena Pro Patria, which is the first of the methanol vessels to be built together with Proman.

The company estimates Stena Pro Patria will use approximately 12,500 tonnes of methanol as fuel per year, significantly reducing the volume of carbon and greenhouse gas emissions when compared to the use of conventional marine fuels.

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With the addition of the new eco MRs and methanol-fuelled ships to Stena Bulk’s portfolio, the shipowner is making headway on its decarbonization trajectory.

Namely, by 2040 Stena Bulk aims to become a fully carbon-neutral tanker operator, through a combination of zero-emission vessels and those running on carbon-neutral fuels, coupled with carbon emissions offsetting programs.
To achieve its final milestone in 2050, the company plans to take accountability for its operations and the indirect emissions connected to the business, as well as the cargo carried by its vessels. Therefore, by 2050, all cargo carried by the Stena Bulk fleet will need to be climate neutral.

“By taking these vessels on a long-term basis we demonstrate a continuous commitment to develop our business and utilise today’s technology to unlock efficiencies,” Erik Hånell, President and CEO of Stena Bulk, said

“We always embrace partnerships because they are a cornerstone of our growth strategy. This deal is a fantastic example of this approach, allowing us to reach another milestone in our long-standing relationship with our close Japanese partners.”

Stena Bulk, part of the Stena Sphere, controls a combined fleet of around 110 vessels.