GSB Tankers was set up to undertake chemical tanker operation and commercial management.
The new venture will commence operation on 1st January, 2019, out of Golden-Agri Stena’s headquarters in Singapore and will have offices in both Dubai and Japan.
Initially, the joint venture will manage 18 chemical tankers with the aim of operating 30 vessels in the next two years.
“We are very pleased to announce the partnership with the successful and well-positioned Japanese company, Bay Crest Management. Forming strategic partnerships in this way is for us a well-tried concept, co-ordinating complementary assets, knowhow and experience.
“It also makes it possible for us to take a deeper step into a market we have strong belief in for the future. I am certain there will be spin-off effects for all partners, with new business opportunities, as well as broadening exposure and presence in various business areas,” explained Erik Hånell, Stena Bulk President and CEO.
“After six very successful years operating and managing intermediate-sized chemical tankers, Golden-Agri Stena aspires to enhance its involvement in the chemicals cargo trade through operating and managing stainless steel tankers. Bay Crest offers excellent experience and network for us to jointly attain the aspiration,” added Björn Stignor, Golden-Agri Stena managing director.
“Riding on prior success in managing stainless steel chemical tankers in the region, Bay Crest Management is keen to further extend its footprint internationally. The good brand name of Golden-Agri Stena, coupled with its extensive experience in trading vegetable oil and clean petroleum products, makes them an ideal equal partner for achieving our ambition,” commented Shinsuke Togawa, board director of Bay Crest Management.