Stena Bulk Acquires Majority Stake in Golden Stena Baycrest Tankers
Swedish tanker owner Stena Bulk has taken a significant step in the chemical and specialized tanker market by increasing its stake in Golden Stena Baycrest Tankers (GSB) to become the majority shareholder. This strategic move was executed through the acquisition of additional shares from Bay Crest, solidifying Stena Bulk’s position within the joint venture, which also includes Golden Agri and Bay Crest. The partners have expressed that this development underscores their long-term commitment to the platform while allowing Stena Bulk to play a more influential role in shaping GSB’s future.
With this majority control, Stena Bulk is poised to take a more active role in the strategic development of GSB. The company plans to continue its collaboration with partners in Asia and the Middle East, regions where demand for specialized chemical tonnage remains robust. The shareholders have indicated that the next phase for GSB will focus on accelerating growth, expanding the fleet and contract coverage, and enhancing the company’s position with chemical cargo owners.
Strengthening Strategic Focus and Operational Capabilities
Stena Bulk’s president and chief executive, Erik Hånell, emphasized that this transaction aligns seamlessly with the group’s broader strategy in the chemical and specialized tanker segment. “By becoming the majority shareholder in GSB, Stena Bulk is strengthening a platform that aligns closely with our long-term strategy,” Hånell stated. He expressed optimism about growing the business alongside partners Golden Agri and Bay Crest, building on the strong foundation established through their collaboration.
Philip Eriksson, managing director of GSB, highlighted that the shift in ownership would sharpen the company’s focus. He noted that this announcement marks a pivotal step in enhancing GSB’s strategic footprint and operational capabilities within the specialized tanker market. Eriksson added that Stena Bulk’s increased stake reflects confidence in the long-term dynamics of chemical shipping, which will support further growth, fleet optimization, and improved customer service delivery.
About Golden Stena Baycrest Tankers
Founded in January 2019 and headquartered in Singapore, GSB Tankers specializes in intermediate-size vessels of up to 25,000 deadweight tons (dwt). The company operates trades primarily between the Arabian Gulf and the Far East, transporting edible oils, chemicals, and clean petroleum products. With additional offices in Dubai and Japan, GSB has built a solid reputation in the chemical and specialized tanker segment, supported by a growing fleet and long-term customer relationships. The company’s focus on regional trades in Asia and the Middle East positions it well to meet the steady demand for specialized chemical tonnage in these markets.
