Proman Stena Bulk Ltd, a joint venture (JV) between Switzerland-headed Proman Shipping AG, part of Proman Group, a leading global methanol producer, and Sweden-headed Stena Bulk AB, one of the world’s largest tanker shipping companies, has announced that its second methanol-powered newbuild tanker, Stena Pro Marine, has been delivered.
The brace of vessels adds to the expanding global methanol-powered fleet, with four additional JV and Proman vessels due for delivery by 2024, amidst growing industry momentum behind methanol marine fuel.
The announcement reaffirms Proman Stena Bulk’s early commitment to the maritime industry’s low-emission methanol pathway, following the delivery of the Stena Pro Patria earlier last month.
Vessels such as the Stena Pro Marine demonstrate to shipowners and policymakers that the industry can take proactive and immediate steps on the decarbonization pathway, said Anita Gajadhar, MD of Proman Shipping, Marketing and Logistics.
Growing advantage of methanol
The growing momentum behind methanol-powered vessels across the shipping industry in recent weeks highlights methanol’s key advantage as a globally available cleaner marine fuel: its proven net-zero pathway allows shipowners to invest in vessels that are already futureproofed.
As well as immediate greenhouse gas (GHG) emissions reductions, carbon dioxide (CO2) emissions can be steadily reduced by blending increasing quantities of low-carbon and renewable methanol in the coming years, without any changes to engines or wider infrastructure.
Stena Pro Marine entering normal operation is another statement of intent to the market that it is not only possible, but more importantly, it is operationally effective to use methanol as a marine fuel today, with methanol already available at over 120 ports worldwide, including all major bunkering hubs.
We’re proud to be able to add Stena Pro Marine alongside Stena Pro Patria to our fleet with this delivery announcement. We truly believe that these vessels are not only a step forward for MR tanker design but are also a clear statement of intent to the market. They showcase our confidence in methanol as an important and viable solution for the future of sustainable shipping, said Erik Hånell, President and CEO of Stena Bulk.
Both 49 990 DWT IMOIIMeMAX dual-fuel mid-range (MR) tankers were built at Guangzhou Shipyard International Co Ltd (GSI) in China.
Stena Pro Marine, like Stena Pro Patria, is expected to consume 12 500 tonnes of methanol per annum.
The use of methanol onboard virtually eliminates local pollutants including SOx and particulate matter (PM), cuts NOx emissions by 60 percent, and reduces CO2 emissions by up to 15 percent on a tank-to-wake basis versus conventional marine fuels.
Proman and other producers are ramping up investments in low-carbon methanol technologies and renewables projects to meet rapidly expanding customer demand, said Anita Gajadhar.
Alongside pioneering the methanol tankers, Proman and Stena Bulk are also committed to supporting the development of frameworks for methanol uptake in shipping.
The JV will continue to invest in methanol as a marine fuel and support legislation and regulations that drive methanol’s viability today while continuing to develop production and infrastructure for tomorrow.
As regulators continue to propel much-needed maritime decarbonization, including the EU’s ‘Fit for 55’ legislative package, these vessels underline the importance of a regulatory framework that relies on one certification methodology for alternative fuels and accurate emission measurements of all fuels – including reduced carbon-intensity fossil-origin products, which play an important early role in accelerating the switch to cleaner fuels and enabling the pathway to net-zero, ended Anita Gajadhar.
