Olof Wallenius was born in 1902. His first company, Grosshandelsfirman Olof Wallenius, was founded already in 1922 and traded in empty barrels. Olof Wallenius eventually became an agent for Karlshamns Oljefabriker and expanded his business to include transportation of soya oil in barrels by truck.
He soon realised that the most efficient way of handling the transportation from Karlshamn was over the waters. Therefore, in 1934, he acquired his firs vessel, a coastal tanker and set up a shipping company, Rederi AB Soya, named after the cargo.
The first vessel
Olof Wallenius forms Rederi AB Soya and acquires the first vessel, which is named MT SOYA. The vessel has a capacity of 125 tonnes. Rederi AB Soya opens its first office at Swedenborgsgatan 6, near Mariatorget on Söder in Stockholm.
More vessels needed
Business is growing. The cargo consists of various types of vegetable and mineral oils in coastal and Baltic traffic. More tankers are added to the fleet and between 1935 and 1940 the motortankers SOYA II, III, IV, V, VI and VII are put into service.
The company needs more space and moves the offices just one block down the road to Wollmar Yxkullsgatan 7. This is the only time in the company's history when the office address has not been on Swedenborgsgatan.
Own oil depot
Newly established Cisterna AB builds large tanks to store vegetable oils and petroleum products on Lidingö, just outside Stockholm.
The first Swedish reefer
MS ALSTERUFER, Sweden's first reefer is ordered but sold prior to delivery.
The Fleet 1930 - 1939