Golden-Agri Stena has started a new joint venture, GSB Tankers, together with Bay Crest Management. GSB Tankers is set up to undertake the operation and commercial management of chemical tankers in Asia.
Golden-Agri Stena is a partnership between Stena Bulk and Golden Agri-Resources since 2012.
GSB Tankers will commence operation on 1st January 2019, out of the existing premises of Golden-Agri.
Apart from its headquarters in Singapore, GSB Tankers will have offices in both Dubai and Japan.
At first, the joint venture will manage eighteen chemical tankers. Thereafter, it aims to manage thirty chemical tankers within the next two years.
Operating and managing stainless steel tankers
“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”, says Björn Stignor, managing director of Golden-Agri Stena.
Shinsuke Togawa, director of Bay Crest Management says: “Riding on prior success in managing stainless steel chemical tankers in the region, Bay Crest Management is keen to further extend its footprint internationally.
Additionally, he says the experience of Golden-Agri in trading vegetable oil and clean petroleum products makes them an ideal partner.
Erik Hånell, president and CEO Stena Bulk, says that forming strategic partnerships is a well-tried concept. With it, they can better coordinate complementary assets and share know-how and experience. Moreover, this is a platform for them to take a deeper step into a market they have strong belief in for the future.
He believes there will be spin-off effects for all partners. There will be new business opportunities as well as broadening exposure and presence in various business areas.