Sonangol and Stena Bulk Start Suezmax Pool
8.00 AM CET / 22-March-2005 / Stena Bulk
"Stena Bulk AB and the Sonangol shipping companies have today, March 22, 2005 jointly announced the establishment of a Suezmax pooling venture. This new pooling venture will become operational early in the 3rd quarter of 2005 and will serve as a platform for the two companies to commercially operate their respective Suezmax vessels. The new pool will be operated from Stena Bulk’s office in Houston, Texas and will allow the Sonangol shipping companies to meet two new major objectives – a more active role in the supervision of the technical, commercial and post fixture management of their shipping assets and the expanded development of Sonangol’s internal shipping expertise. Mr. Baptista Sumbe, a director of the Sonangol shipping companies, has stated that “The location of the joint venture in Houston will insure that Songangol shipping management and training objectives can be met and that Sonangol shipping staff will have easy access to the joint venture management. Education and training opportunities in all aspects of vessel management will form a cornerstone of this joint venture.” Mr. Ulf Ryder, President and CEO of Stena Bulk, commenting on the new pooling agreement said 'We at Stena Bulk are very proud over this trust and are fully committed to bringing Messrs Songangol ambitions to fruition in every respect. I’m convinced that our track record in servicing the oil industry will add to the success of this partnership.'”
Sonangol and Stena Bulk Start Panamax Pool
4.05 PM CET / 15-Feb-2008 / Stena Bulk
Stena Bulk and Sonangol have expanded their shipping collaboration and are now also operating a pool with Panamax tankers. These vessels transport crude oil and petroleum products in Atlantic trade as well as sailing in a round-the-world service. Initially, the pool consists of five Panamax tankers but the aim is to expand it over the next few years to ten vessels by means of purchases or charters.
"This new venture is a direct spinoff from the successful collaboration involving a Suezmax pool, which Stena Bulk and Sonangol have been operating for some years. The aim is the same-to enhance efficiency and thus increase revenue", says Ulf G. Ryder, President and CEO of Stena Bulk. "In addition, we will also continue to offer training and education for both Stena and Sonangol seagoing and shore-based personnel", continues Ulf G. Ryder.
The Suezmax pool, which was started up in 2005, currently consists of 13 vessels, both owned and chartered. The new Panamax pool is a further development of the same concept but in another market segment.
The head office for the pool is located in Stena Bulk's Houston, Texas, headquarters although the group's other offices all over the world are also involved.
"The newly started Panamax pool effectively raises the service level for our customers including our refinery in Luanda, Angola", says Mr Baptista Sumbe, Executive Chairman of Sonangol, USA. Sonangol USA is a wholly-owned subsidiary of the Angolan state oil company, Sonangol EP. Angola currently produces more than 1.9 million barrels of crude oil per day. www.sonangol.co.ao
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