Boosted output in Primorsk paves the way for B-MAX project
The new pipeline, that will increase the output of Russian crude over Primorsk considerable, has also brought Stena’s B-MAX project to the fore.
“We are in talks with Sovcomflot to continue with the development of the B-MAX tanker”, says Ulf G. Ryder, CEO of Stena Bulk. With B for Baltic and Bosphorus, the B-MAX is an extremely wide tanker with shallow draft, able to carry over 200,000 tons of crude from Primorsk through the Store Bælt in Denmark at a 15 metre draft.
Also 2006 became a healthy year for Stena Bulk. The company reports a SEK 1 billion (EUR 107 million) despite extra depreciations. Now, the company expects tougher times ahead.
“I’m a bit worried over the massive deliveries of new tankers from the yards”, says Ulf G. Ryder.
For 2007, the company is expecting a profit around SEK 250 million (EUR 27 million). The year has however started on a positive note. Operations in January generated a surplus of SEK 40 million (EUR 4.3 million). Today, Stena Bulk has no vessels in its orderbook. The listed sister company Concordia Maritime has however a half dozen vessels on order for deliveries from 2007–2010. Long-term charter agreements have been secured for the first two vessels, to be delivered in 2007–2008.
“We are in talks with Sovcomflot to continue with the development of the B-MAX tanker”, says Ulf G. Ryder, CEO of Stena Bulk. With B for Baltic and Bosphorus, the B-MAX is an extremely wide tanker with shallow draft, able to carry over 200,000 tons of crude from Primorsk through the Store Bælt in Denmark at a 15 metre draft.
Also 2006 became a healthy year for Stena Bulk. The company reports a SEK 1 billion (EUR 107 million) despite extra depreciations. Now, the company expects tougher times ahead.
“I’m a bit worried over the massive deliveries of new tankers from the yards”, says Ulf G. Ryder.
For 2007, the company is expecting a profit around SEK 250 million (EUR 27 million). The year has however started on a positive note. Operations in January generated a surplus of SEK 40 million (EUR 4.3 million). Today, Stena Bulk has no vessels in its orderbook. The listed sister company Concordia Maritime has however a half dozen vessels on order for deliveries from 2007–2010. Long-term charter agreements have been secured for the first two vessels, to be delivered in 2007–2008.
