AD Ports Group’s shipping arm Safeen Feeders has joined the Stena Sonangol suezmax pool, a joint venture between Swedish shipowner Stena Bulk, and Angola’s state-run oil company Sonangol.
The 2011 Hyundai Heavy-built 158,600 dwt Safeen Elizabeth, picked up from Ridgebury Tankers about a year ago, has recently joined the pool in Kalundborg, Denmark.
“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,” Safeen Feeders, listed with two suezmaxes in its fleet, said in a release.
Established in 2005, the Stena Sonangol suezmax pool operates from Houston, Gothenburg and Singapore and currently consists of about 20 tankers.
“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,” said Johan Jäwert, co-pool manager of the Stena Sonangol suezmax pool and head of Stena Bulk USA, adding: “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.”
