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Proman Stena Bulk orders third methanol-powered tanker

Photo: Stena Bulk stena_prosperous_imoiimemax_.jpg
Joint venture firm Proman Stena Bulk has ordered a third methanol-powered MR tanker that can expect to significantly reduce NOx emissions.

The 49,900-dwt, MAN dual-fuel engine methanol-powered Stena Prosperous will join the Stena ProPatria and the Stena ProMare in the Proman Stena Bulk fleet in the second half of 2022. The Stena Prosperous will also be built at China's Guangzhou Shipyard International.

Each vessel is expected to use around 12,500 tonnes a year of methanol as marine fuel, significantly reducing emissions compared to the use of conventional heavy fuel oil.

The Stena Prosperous will initially be utilised by Stena Bulk within their traded pool of ships for a period of two to three years. The vessel will therefore be the first methanol dual-fuel powered ship traded on the chemicals/CPP market by a conventional shipowner without an active contract to a methanol producer. After this initial period, the Stena Prosperous will then enter into a long-term time charter with Proman Shipping.

Proman Stena Bulk said this underlines both Stena’s and Proman’s confidence in methanol as one of the most viable and low-emission future marine fuels and their belief in the dual-fuel technology, as well as making methanol more readily available as a marine fuel for third-party shipping companies.

Erik Hanell, president and ceo of Stena Bulk said: “In Stena Bulk we are very satisfied with the development of our joint venture with Proman Shipping, adding one more vessel into our joint venture. It is in Stena Bulk´s objectives to contribute to making the shipping industry more sustainable. This joint venture is taking us in that direction with a partner whom we share many values that we believe will develop the shipping industry with new features driving improved performance and efficiency.”

Methanol is available at over 100 ports worldwide, including at all major bunkering hubs. It is a clean burning, safe to carry and fully biodegradable fuel, which provides a reduction in CO2 emissions, eliminates SOx and particular matter completely, and cuts NOx emissions by 60% compared to traditional marine fuels.

Ahead of the IMO’s strategy to cut greenhouse gas emissions from the global shipping industry, due to be adopted in 2023, Proman Stena Bulk said these vessels will set a new benchmark for MR tanker sustainability.

David Cassidy, chief executive of Proman, commented: “This is an opportunity to build on the already excellent work we have achieved with Stena in our joint venture, which is now a three-vessel programme for the industry-leading IMOIIMeMAX dual-fuel vessels. These new vessels demonstrate our commitment to leading the transition towards methanol as a reliable marine fuel and are an exciting development for us as vessel owners.

“In making Stena Prosperous available to the general market for the transportation of chemicals, we seek to encourage other producers to gain experience with these innovative methanol-powered vessels and to benefit from the significant reduction in emissions that operating these vessels will deliver,” Cassidy added.

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