Stena Bulk, a Gothenburg-based tanker shipping company, said it has acquired an additional shareholding in Golden Stena Baycrest Tankers (GSB) from Bay Crest, making it the majority owner of the joint venture.
Following the transaction, GSB will continue to be jointly owned by the same three shareholders – Stena Bulk, Golden Agri and Bay Crest – the company said, describing the move as a sign of the partners’ long-term commitment to the platform.
Stena Bulk said the increased ownership will allow it to take a more active role in shaping GSB’s strategic development while maintaining close cooperation with the other shareholders.
Founded as a platform for chemical and specialised tanker operations, GSB has built a commercial and operational presence in Asia and the Middle East. The partners said they now plan to accelerate growth, expand fleet and contract coverage and further strengthen the venture’s market position.
“By becoming the majority shareholder in GSB, Stena Bulk is strengthening a platform that aligns closely with our long-term strategy in the chemical and specialised tanker segment.
“We look forward to growing the business together with Golden Agri and Bay Crest, building on the strong foundation we have created as partners,” said Erik Hånell, President & CEO at Stena Bulk.
Philip Eriksson, Managing Director, GSB Tankers added, “This announcement marks an important step in strengthening the strategic footprint and operational capabilities of GSB in the specialised tanker market.
“Stena Bulk’s role as majority shareholder signals confidence in the long-term dynamics of chemical shipping, and will support further growth, fleet optimisation, and customer-focused service delivery. We are confident this partnership will continue to deliver value across key markets.”
GSB will continue to operate from its bases in Singapore and Dubai, focusing on regional and global chemical trades.
