Stena completes preparations for reflagging programme

Gothenburg-based tanker owner, Stena Bulk, has revealed that it is finalising preparations for the reflagging of five Suezmax tankers to the Swedish flag. The first vessel, Stena Sunrise, is ready for the reflagging process which will take place in Singapore at the end of the month. At that time, it will become the only Suezmax tanker currently flying the Swedish flag.

The process has been made possible by the completion of all preparatory steps by the end of June, the company said. It noted the helpful cooperation of involved parties including the Swedish authorities, government officials, and trade unions.

The strategy demonstrates Stena Bulk’s aim of supporting the Swedish maritime sector and leveraging the competitiveness of Sweden as a flag state. Measures taken in recent years include the removal of stamp duty on ship registrations, the design of a more competitive tonnage tax regime, and improvements to the company’s ship register.

These have provided a solid foundation for shipowners to make long-term investment decisions under the Swedish flag, the company said.

Stena Bulk president and CEO, Erik Hånell, commented: “With Stena Sunrise set for reflagging in the coming days, we are delivering on our plan. This could not have been done without the truly constructive and forward-leaning collaboration we’ve had with the Swedish authorities, trade unions, and the government. Together, we have not only moved fast, but we’ve done so with great professionalism and shared purpose.”

The other four Suezmax vessels will be reflagged at a time and place that is convenient both in operational and administrative perspectives, Stena said.