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Major Revamp at Stena Bulk

Image: Stena Bulk AB

By Aiswarya Lakshmi

Stena Bulk is reorganising its business activities into three business areas: Crude & Fuel, Products & Chemicals and LNG and have appointed two new managing directors.

At the same time, its business activities previously conducted under the name of Stena Weco are being coordinated and incorporated into Stena Bulk.
Additionally, a new office in Copenhagen will be opened in the next few days. As a result, the company will leave its office in Rungsted, which until now has been used by Stena Weco.
"This is a natural transition from the old structure to the new one where we now have total control over our business involving product and chemicals transportation in the MR segment. This and other adjustments will result in a clearer structure as regards our business and organisation", says Erik Hånell, President and CEO, Stena Bulk.
At the same time as the reorganisation came into force, two new managing directors were appointed, namely, Mats Karlsson (Crude & Fuel) and Johnny Schmolker (Products & Chemicals).
"After many years working with, among other things, the creation and development of the successful Sonangol pool, I am looking forward to taking greater responsibility in this business area", says Mats Karlsson, Managing Director, Crude & Fuel.
"I have held a leading position at Stena Weco since it was started up 6,5 years ago and I am happy to have a key role in the incorporation of the two companies' business into a single business", says Johnny Schmolker, Managing Director, Products & Chemicals.
In other changes, Johan Jävert has been appointed as Vice President, Commercial Operations, and Sofia Eriksson will take on the position of General Manager, Business Control, WW. Björn Stignor continues as Managing Director of Golden Stena Weco in Singapore as does Göran Hermansson as General Manager of the business area LNG.
Stena Bulk Products & Chemicals, Denmark has moved in to the newly incorporated Stena Rederi AS' domicile, where also Stena Line, Stena RoRo and Northern Marine Management are present. The office is located in Copenhagen near the Port of Tuborg. Stena Bulk will also continue to have regional offices in Gothenburg, Houston, Singapore, Shanghai and Dubai.
Earlier this year, Stena Bulk signed an agreement to acquire the remaining 50% of the shares in Stena Weco from its partner WECO Shipping. This means that Stena Weco has now been incorporated into, and is wholly owned by, Stena Bulk.
Together with Stena Weco's fleet of 65 tankers, Stena Bulk operates around 100 tankers. A third of these are owned and two-thirds are chartered.

Nov 13, 2017



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