Tanker shipping company Stena Bulk announced on January 27 that it has acquired an additional shareholding in Golden Stena Baycrest Tankers (GSB Tankers) from partner Bay Crest. This transaction makes Stena Bulk the majority shareholder in the joint venture.
GSB Tankers will remain jointly owned by three shareholders, which include Stena Bulk, Golden Agri, and Bay Crest.
Stena Bulk stated it is positioned to take a more active role in driving the strategic development of the company while maintaining collaboration with its partners. GSB Tankers operates in the chemical and specialised tanker segment, with a focus on markets in Asia and the Middle East.
Erik Hånell, President and CEO at Stena Bulk, said, “By becoming the majority shareholder in GSB, Stena Bulk is strengthening a platform that aligns closely with our long-term strategy in the chemical and specialised tanker segment.” He also stated that the company is looking forward to growing the business together with Golden Agri and Bay Crest.
GSB Tankers will continue to operate from its bases in Singapore and Dubai. The company noted that it will use the experience and networks of all three shareholders to pursue growth in regional and global chemical trades.