Swedish tanker owner Stena Bulk has moved to strengthen its position in the chemical and specialised tanker market after lifting its stake in Golden Stena Baycrest Tankers (GSB) to become the majority shareholder.
The additional shares were acquired from Bay Crest, with the joint venture remaining jointly owned by Stena Bulk, Golden Agri and Bay Crest. The partners said the move underlines their long-term commitment to the platform, while giving Stena Bulk a larger role in shaping the company’s future.
With majority control, Stena Bulk is expected to take a more hands-on role in the strategic development of GSB, while continuing to work closely with its partners in Asia and the Middle East.
Since its launch, GSB has built a solid reputation in the chemical and specialised tanker segment, supported by a growing fleet and long-term customer relationships. The company has focused heavily on regional trades across Asia and the Middle East, where demand for specialised chemical tonnage remains steady.
The shareholders said the next phase will focus on accelerating growth, expanding fleet and contract coverage, and strengthening GSB’s position with chemical cargo owners.
Stena Bulk president and chief executive Erik Hånell said the transaction fits neatly with the group’s wider strategy.
“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,” Hånell said. “We look forward to growing the business together with Golden Agri and Bay Crest, building on the strong foundation we have created as partners.”
GSB managing director Philip Eriksson said the shift in ownership would help sharpen the company’s focus.
“This announcement marks an important step in strengthening the strategic footprint and operational capabilities of GSB in the specialised tanker market,” Eriksson said. He added that Stena Bulk’s larger stake “signals confidence in the long-term dynamics of chemical shipping” and would support further growth, fleet optimisation and customer-focused service delivery.
GSB Tankers focuses on intermediate-size vessels of up to 25,000 dwt, operating trades between the Arabian Gulf and the Far East and carrying edible oils, chemicals and clean petroleum products. The company commenced operations in January 2019 and is headquartered in Singapore, with additional offices in Dubai and Japan.
