As a result, Stena Weco will be wholly owned by Stena Bulk.
Stena Weco’s head office is to remain in Denmark as will its regional offices in Singapore, Dubai and Houston.
Within the latest agreement WECO Shipping will continue to run its controlled fleet in the Stena Weco logistic system. Stena Weco currently operates around 65 vessels, about half of which are owned and half chartered-in.
“After six very successful years and operational collaboration, the two companies’ ambitions for the future have changed. With the agreement now reached, which means that Stena Weco will be 100% owned by Stena Bulk, this situation has now been solved in a way that benefits both parties,” said Erik Hånell, president and CEO of Stena Bulk and Stena Weco CEO.
”We are proud to have been part of the successful Stena Weco journey and very pleased that we have been able to reach the perfect solution for both partners in Stena Weco, also for the future”, added Johan Wedell-Wedellsborg, board chairman of WECO Shipping.