Friday, April 10, 2020

Iran may release Swedish owned British tanker Stena Impero soon

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

Stockholm has obtained “very strong indications” that the British oil tanker Stena Impero, which was seized by Iran last month in the Strait of Hormuz, will be released soon, Swedish TV reported on Thursday, quoting Swedish Foreign Ministry sources. Swedish company Stena AB on July 19 after passing through the strait.

Iranian Foreign Minister Mohammad Javad Zarif visited Sweden this week for talks on Stena Impero with his Swedish counterpart Margot Wallstrom.

It said the tanker was expected to be released within a few days, citing a source familiar with the talks between Zarif and Wallström.

“We look positively at what Foreign Minister Zarif himself said publicly, but we are not revealing what was said in the meetings,” a Foreign Ministry spokeswoman said in an e-mailed statement.

About Swedish company Stena AB

Sten Allan Olsson died last year at 96 and is considered one of Sweden’s most successful entrepreneurs. The family empire he left behind includes ferries, cargo carriers, shuttle tankers, offshore drilling, real estate, financial services, steel production and the largest recycling operation in Europe.

Dan Sten Olsson, his oldest son, is CEO of Stena AB at present. The company has annual revenues of about $5 billion. The Stena Sphere, which includes Stena AB as well as Stena Sessan AB and Stena Metall AB, has revenues of over $8 billion. It employs roughly 20,000 people, operates 173 vessels and 96 wind turbines, and has a real estate division with 27,000 residential and commercial units.

Stena AB, the largest business unit, includes the following subsidiaries: Stena Line, Stena Drilling, Stena Renewable (wind power), Stena RoRo, Stena Bulk (crude oil and product tankers), Stena Teknik (shipbuilding and ship conversion), Northern Marine Shipmanagement, Stena Property (real estate in Sweden, the Netherlands, France and China), Stena Finans (treasury and asset management for the entire corporation), and Stena Adactum (investments).

Stena Sessan AB is the result of the 1980 merger of ferry rivals Sessan Line and Stena Line. The division also includes Concordia Maritime, Stena’s publicly traded tanker subsidiary.

Stena Metall AB, the oldest company in the portfolio, recycles metal, paper, electronics, hazardous waste and chemicals and has operations in Sweden, Norway, Denmark, Finland, Poland, Russia, Germany, Austria, Italy and the US.

Read also: UK announces European-led protection mission for shipping in the Gulf

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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