EMEA News
Swede Chem Takes on Two OW Bunker Tankers
Swede Chem Tankers AB (SCT) has taken over time charters on two tankers operated until recently by OW Bunker, Swedish news outlet Sjöfarts Tidningen reports.
"OW Bunker is our biggest competitor with the size of the ships that we operate," said Frederik Grönberg, SCT's chartering manager.
"So when they went bankrupt [it] opened the possibility for us."
The new ships are the Besiktas Halland and Mainland and are owned by Besiktas Shipping Group (Besiktas).
According to SCT's website both tankers are 7,700 deadweight tonne, 1A Ice Class vessels, built in 2008.
Grönberg said that Baltic Sea-based SCT is taking a risk to some extent by expanding its fleet in this way, especially in light of the impact that stricter sulfur rules are expected to have from January 1, 2015.
But SCT was already exploring options with Besiktas before news of OW Bunker's collapse, something which meant this deal was able to move quickly.
"It was all about quick decisions and the deal was confirmed here on Thursday," said Grönberg.
Analysts predicted last week that other companies may see opportunity in OW Bunker's exit from the market, with World Fuel Services and Aegean Marine Petroleum in particular tipped to increase market share.
