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Aegean Shipping Announces Long-Term Time Charter for the Green Fleet

02 July 2015

We are pleased to announce a five year time charter contract for our GreenFleet with the highly reputed international company, Stena Weco.
Greenfleet, our new eco-designed medium-range product tankers, have been chartered in an en bloc deal to Stena Weco, a joint venture between Stena Bulk and Weco, a Dannebrog group affiliate, in one of the largest recent chartering deals in the sector this year. All four of our GreenFleet vessels have been chartered for five years to our new partner, with whom we are proud to cooperate.
The four vessels, branded by us as our Green Fleet, are all of about 50,900 dwt and were built by Daesun Shipbuilding & Engineering. Green Planet, Green Sea, Green Sky and Green Hellas were delivered to Stena Weco in Q2, 2015, and are now commercially operated from one of Stena Weco’s three international offices.
Vikki Koumis, Head of Chartering for the Company, said this deal is in line with our current strategy of expansion, and we look forward to the continued growth taking advantage of the current market conditions. Ms. Koumis notes that we were mindful of a heavy MR order book and more than half the capacity under construction due for delivery during the remainder of 2015, hence the period coverage made sense to us. The market has kept strong so far this year, with demand soaking up this supply of tonnage quickly for now, which is good news for all.

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