Älvtank is a company with its roots in tanker business going back to 1948 when the Donsö native Fridolf Jakobsson bought "Ramona" (125 dwt) with some other part owners. Although this was not Fridolfs first vessel, he had already owned two schooners named "Kristina", bought in 1922, and "Nanny", bought in 1930.

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Today, Älvtank is owned and managed by the Jakobsson and Nilsson families, who is grandchildren of the founder. At present, the Älvtank fleet is consisting of three 18.000 dwt tankers, Ramona, Ramanda & Ramelia.

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