Stena Bulk Takes Control of Stena Weco
Posted by Michelle Howard
March 10, 2017
Photo courtesy of Stena Bulk
Erik Hånell (Photo: Stena Bulk)
Stena Bulk has agreed to purchase the remaining 50 percent of the shares in Stena Weco from its partner WECO Shipping.
Stena Weco will thus be wholly owned by Stena Bulk. Stena Weco’s head office will remain as it is today in Denmark in addition to the regional offices in Singapore, Dubai and Houston. Within the agreement between Stena Bulk and Weco, WECO Shipping will continue to run their controlled fleet in the Stena Weco logistic system. Stena Weco currently operates around 65 vessels, about half of which are owned and half chartered.
“After six very successful years and operational collaboration, the two companies’ ambitions for the future have changed. With the agreement now reached, which means that Stena Weco will be 100 percent owned by Stena Bulk, this situation has now been solved in a way that benefits both parties”, says Erik Hånell, President and CEO of Stena Bulk and CEO of Stena Weco.
