Stena Bulk in new joint venture with Golden Agri-Resources
Stena Bulk has entered into a new 50/50 joint venture with the Indonesian palm oil producer Golden Agri-Resources. The joint venture company, Golden Stena Bulk, will initially acquire four oil tankers previously ordered by Stena Bulk. The vessels will be deployed in Stena Weco’s logistic system in the global market. Golden Stena Bulk is the second step in the collaboration between Stena Bulk and Golden Agri-Resources, following the establishment in 2012 of the joint venture Golden Stena Weco.
Stena Bulk, one of the world’s leading tanker shipping companies, has a fleet of approximately 100 tankers and is also responsible for the marketing and operation of Concordia Maritime’s fleet of vessels. The company is part of the Stena sphere, a group of companies with approximately 20,000 employees and a turnover of approximately SEK 60 billion.
Golden Agri-Resources is the world’s second largest palm oil producer with its shares listed at the Singapore Stock Exchange, with a market capitalization of approximately USD 7 billion.
Stena Bulk was advised by Mannheimer Swartling in the transaction. The firm’s team included partners Johan Ljungberg and Stefan Brocker and senior associates Pontus Danielson and Hanne Aarsheim. Associate Oscar Björkman Possne advised on intellectual property rights matters.