Stena Weco, itself a JV between Stena Bulk and Weco, explains the new pact will boost its presence in the intra-Asiatrade.

The move was confirmed in a statement thisafternoon, three days after TradeWinds first broke news of the development.

Ulf Ryder, CEO of Stena Bulk, said: "This isanother step towards becoming the market-leading operator working together withcargo owners with the aim of adding value together in a logisticaltransportation chain.