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Safeen Feeders suezmax joins Stena Sonangol Pool

Stena Sonangol Tanker Stena Supreme at sea with Stena Sonangol livery
AD Ports Group’s Safeen feeders has joined the Stena Sonangol Suezmax Pool as a new member, adding one ship to the pool.

The pool is a joint venture between Stena Bulk and Angolan state-owned oil company Sonangol and currently has 18 ships with an average age of 10.6 years totalling 2,845,266 dwt, according to its website.

Tankers are a relatively small part of Safeen’s operation and a recent addition compared to its container and dry bulk activities. Safeen announced the purchase of its first crude tankers in March 2023, buying up three vessels for $135m.

Safeen Elizabeth, a 2011-built 158,000 dwt suezmax joined the Stena Sonangol pool recently, according to Safeen, as the pool benefits from a change of direction made in 2020.

“We restructured the pool in 2020 to be more of an open pool with equal saying for each pool member joining the pool, and we are now happy to see more pool members joining. With the volatile and strong market we have seen the last couple of years, we believe that the pool continues to be the concept to make sure strong and stable earnings are secured throughout the market’s cycles,” said Johan Jäwert, co-pool manager of the Stena Sonangol Suezmax Pool and head of Stena Bulk USA.

Safeen Feeders said: “We believe that entering Safeen Elizabeth into the pool will help to strengthen our global network and connectivity, as well as help us to unlock new opportunities and reinforce our commitment to providing efficient and reliable maritime solutions.”

The pool uses the Orbit MI platform to optimise its daily operations and enhance fleet performance and utilisation.

"Our continued strong performance and global network will mean that the addition of Safeen Elizabeth will create value for both Safeen and Stena Sonangol,” added Jäwert.