Through close partnerships with leading industry players, Stena Bulk secures attractive business and access to cargo. The company’s joint venture partner, Proman Stena Bulk, took delivery of its sixth methanol-powered tanker, the Stena Prosperous, during the year, consolidating the company’s position in sustainable fuels. Methanol technology makes it possible to radically reduce greenhouse gas emissions compared to conventional fuels and is an important part of Stena Bulk’s long-term strategy.

At the same time, the company consolidated its fleet through a new partnership with an investment player linked to the Gulf Cooperation Council, which includes a number of vessels in the IMOIIMAX segment. Stena Bulk also expanded its involvement in the Stena Sonangol Suezmax Pool. Two new Suezmax vessels joined the Pool during the year.

In 2024, Stena Bulk stepped up its investment in AI-driven solutions that support its core business. Using advanced algorithms and machine learning, the company can anticipate market trends better, optimise logistics and commercial operations, and improve vessel maintenance. These initiatives enable the analysis of large volumes of data in real time to make faster and more informed decisions in a changing market.

Together with Stena Teknik, Stena Bulk also developed AI-based systems to optimise energy consumption and reduce carbon emissions. Through smart route planning and automated decision-making systems, fuel consumption can be reduced and operational efficiency improved. In addition, an AI-driven administrative platform has been developed to simplify and streamline decision-making within the organisation, further strengthening the company’s competitiveness.

Over the past three years, Stena Bulk has navigated a dynamic market, characterised by strong growth and opportunities. Based on the information the company has today, the years ahead may entail a more challenging market picture. This potentially opens up strategic initiatives and opportunities to further consolidate the company’s position by acting proactively and adapting to the changing landscape.

An ongoing focus on operational excellence, strategic partnerships and innovative technology solutions, where AI and sustainability go hand in hand, puts Stena Bulk in a good position to continue leading the tanker industry and meet the challenges – and opportunities – of the future successfully.

Environment

Energy efficiency operational indicator

Medium range

Suezmax

Goal: –2% per year

The Energy Efficiency Operational Index (EEOI) is a recognised method used in the shipping industry to measure a vessel’s energy efficiency per tonne of goods transported. Medium Range (MR) and Suezmax are two different types of vessels.

Comments: The energy efficiency of the MR fleet decreased slightly due to fewer operating vessels and higher average age. The goal for the Suezmax fleet was achieved.

Retention rate

94%

Goal: >90%

The company uses “Retention rate” as a key ratio to monitor its ability to retain seafarers.