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Stena Bulk/Asahi Tankers

Stena Bulk and Asahi Tanker Co have formed a joint venture company, Asahi Stena Tankers, which will invest in tonnage of varying sizes. Initially the focus will be on investments in Suezmax tankers for global transportation of crude oil.

“This joint venture will increase our investment flexibility. Additionally, it will open the door to interesting business opportunities with access to good contacts in shipbuilding, oil transportation and finance,” said Kim Ullman, executive vice president & coo, Stena Bulk. The collaboration will also strengthen Stena’s presence in the Far East.

“We are interested in broadening our exposure to larger vessels and our fleets complement each other well,” said Makoto Iwata, president, Asahi Tanker Co.

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