Stena Bulk charters MR tanker quartet

These state-of-the-art newbuilds are under construction at South Korea’s Hyundai Mipo Dockyard. Stena Continent and Stena Conquest are due to be delivered from Hyundai Mipo by the end of 2025.

Two other vessels, Stena Contender and Stena Concept, will follow in 2026. All four will use the South Korean yard’s latest eighth-generation MR tanker design. 

The shipowner said the ships will boast “top-of-the-line” fuel consumption, consuming 15 tonnes of fuel per day when laden at 13 knots. All four vessels are also have a scrubber fitted to comply with the global sulphur cap.

This news follows in the footsteps of Stena Bulk’s success with Stena Convoy and Stena Conductor, which were delivered in 2022 to a South Korean yard and chartered from a Japanese owner, like these new additions to the Stena Bulk fleet.

Stena said this will strengthen its ties to the Asia Pacific region, as all vessels are owned by one of the largest private shipowners in Japan.

Taking six long-term charters from Japan into the Stena Bulk fleet underscores the country’s importance to the organisation’s long-term and flexible fleet strategy.

Stena Bulk president and chief executive Erik Hånell said, “Our long-term fleet expansion strategy always requires us to act flexibly and intelligently with the best interests of our customers at the forefront.”

“The current landscape of costly short-term time charters means we need to think differently, which is why we are proud to sign these four long-term newbuild charter deals. The market-leading sustainability performance of these vessels will help to underpin our sustainability strategy, but the stability that these long-term deals afford will create assurance for our customers globally.”