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Bahri charters Proman Stena Bulk dual fuel methanol tanker pair

Proman Stena Bulk The naming ceremony of MR tankers Stena Provident and Stena Progressive
Bahri Chemicals has signed a five-year agreement to time charter in two methanol-powered tankers from the Proman Stena Bulk partnership.

Stena Provident and Stena Progressive are 49,990 dwt MR tankers and the last in a series of six IMOIIMeMAX vessels delivered by Guangzhou Shipyard International to Proman Stena Bulk since 2022.

Bahri said the dual-fuel ships will be used to transport various products globally.

One of the largest producers of methanol globally, Proman partnered with Stena in 2019 to co-operate on its shipping operations and develop the use of methanol as a marine fuel. The orders for the first two IMOIIMeMAX vessels were signed by the partners in 2019. The companies further agreed to develop retrofit and supply solutions for the maritime industry to enable wider adoption of methanol within shipping.

In 2023, methanol overtook LNG as the dominant alternative fuel in the orderbook, according to DNV data. As a fuel, methanol has lower NOx emissions and near-zero SOx emissions. In the long term, green methanol produced from waste streams and captured carbon using renewable energy has the potential to slash shipping’s carbon emissions.

Faisal Al Husseini, President of Bahri Chemicals, said: “The path to carbon reduction in the maritime transportation ecosystem is multi-faceted. We at Bahri Chemicals believe methanol is an important component of that equation. As the flagship carrier of the Kingdom of Saudi Arabia and the largest owner and operator of IMO2 MR vessels, we strive to continually play a vital role in protecting the environment and setting industry standards.” 

Anita Gajadhar, Executive Director of Marketing and Logistics at Proman, said: “Methanol is increasingly becoming a mainstream marine fuel and Proman is committed to time-chartering our vessels to enable others to gain operational experience of using methanol as a fuel, to realise the immediate air quality benefits and emissions reductions it brings, and to understand its value and role on the pathway to a lower-emission future”.