Alterna Creates New Product Tanker Company

Alterna Capital Partners announces the formation of Sterling Ocean Shipping, an international shipping company. Sterling Ocean has placed an order for three 50,000 DWT Eco-design Medium Range (MR) IMO II/III product/chemical tankers from STX Offshore & Shipbuilding Co., Ltd in South Korea. The vessels will be used to transport petroleum products such as gasoline, diesel, and jet fuel as well as food-grade oils and easy chemicals. Sterling Ocean will charter the vessels to oil majors and trading companies. Sterling Ocean will take delivery of the vessels in 2013.