Stena RoRo has so far ordered 13 Stena E-Flexer hybrid vessels. Nine of these have been delivered and two more will be delivered in 2024.

The market shows great interest in Stena E-flexers. These vessels are equipped with market-leading technology, hybrid engines that enable the use of different types of fuel, and are also prepared for electric powered operation. Their high deck capacity also reduces total emissions per unit transported, resulting in a lower carbon footprint as well as better cost and energy efficiencies, compared to other vessels in the same segment.

Stena RoRo has a close collaboration with the shipyards and the E-flexer vessels have been successfully chartered out on long-term contracts directly from delivery. This has given Stena RoRo a stable profitability base.

“Our Stena E-flexer hybrid vessels give us competitive advantages and increased profitability. How well a vessel performs from an environmental perspective will be the key profitability parameter in the future,” says Per Westling, MD of Stena RoRo.

During 2023, Stena RoRo received orders from Stena Line for two new freight ships, known as New Max. These vessels have a 30 per cent higher deck capacity compared to equivalent vessels and are specially adapted for traffic in the Irish Sea. For the development of these vessels, Stena RoRo is part of a global collaboration to develop a smart system for more precise manoeuvring in narrow ports and shallow waters. The vessels are also equipped with market-leading technology and hybrid engines, and are prepared for battery operation.

Stena RoRo creates value by maintaining its vessels well, and by investing in attractive vessels and converting them to new solutions that the market demands. One of these new projects in 2023 was the acquisition of the RoRo vessel Frijsenborg, intended for Stena Line’s traffic in the Irish Sea. The vessel has been renamed Stena Forwarder, and is attractive in the market due to its low fuel consumption. Another project was the extension and considerable technical upgrade of the vessel Stena Forecaster, which has been chartered out to a French shipping company over a two-year period.

During the year, Stena RoRo continued its investment in industrial projects, where alternative areas of use for vessels that are no longer in operation are developed. A successful example is the conversion of Stena Saga, which for the past two years has served as a floating residence and office in the Gulf of Manila for crews working on the construction of a new airport.

“This is an exciting new market for us, where we see great potential for old vessels to be deployed for a new function, by offering different types of accommodation,” comments Per Westling.

Safety is the top priority and training in this field is constantly evolving to meet new standards, regulations and best practice. Key safety indicators are reported at each Board meeting. Stena RoRo sets clear requirements for shipyards and carries out on-site inspections for new partnerships. One challenge at the shipyard is the presence of multi-level subcontractors.

Stena RoRo also works actively with other stakeholders in the industry to develop the shipping industry in a sustainable direction. Continuous efficiency improvements are made for existing vessels, such as software for fuel optimisation, more efficient propellers, and hull treatment that reduces water resistance. An external energy consultation is also conducted annually, to identify additional energy saving opportunities.

The most important risks for Stena RoRo are construction risk and counterparty risk in the charter contracts, as well as a downturn in the economy. To manage these risks, Stena RoRo works closely with shipyards and is more cautious with new investments. At the same time, the planned investments in hybrid vessels continue and these have already represent a competitive advantage in an increasingly environmentally conscious market.

Environment

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