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Six years after the start of Stena Weco, Danish shipping company Weco parts with Swedish group Stena Bulk.

According to a statement, Stena Bulk has agreed to purchase the remaining 50% of the shares in Stena Weco from its partner. The joint venture will thus be wholly owned by St[ds_preview]ena 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, Weco Shipping is said to continue to run their controlled fleet in the logistic system. The joint venture currently operates around 65 vessels, about half of which are owned and half chartered.

Stena, Weco
Stena Bulk CEO Erik HÃ¥nell (Photo: Stena Bulk)

»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% owned by Stena Bulk, this situation has now been solved in a way that benefits both parties«, said Erik Hånell, President and CEO of Stena Bulk.

»We are proud to have been part of the successful journey and very pleased that we have been able to reach the perfect solution for both partners, also for the future«, added Johan Wedell-Wedellsborg, Chairman of the Board of the partner.

Johan Wedell-Wedellsborg, Chairman of the Board of WECO Shipping
Chairman of WECO Shipping, Johan Wedell-Wedellsborg (Photo: Stena Bulk)

Stena Weco, which was established at the beginning of 2011. The shipping company specialises in the transportation of vegetable oils, chemicals and oil and petroleum products. the company is active in the business of tankers, RoRo, projects and bulk.