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Proman finalizes deal for two additional new methanol dual fuel MR tankers

Switzerland-headed integrated industrial group Proman AG has announced that it has finalized an agreement to build two additional 49 900 dwt methanol dual-fuel MR tankers, bringing its total investment in methanol-powered vessels to six newbuilds. Proman will be the sole owner of the "Provident" and "Progressive", alongside the "Promise" which is due to be delivered in Q3 2022.

Proman AG has finalized an agreement to build two additional 49 900 dwt methanol dual-fuel MR tankers, bringing its total investment in methanol-powered vessels to six newbuilds. Proman will be the sole owner of the “Provident” and “Progressive”, alongside the “Promise” which is due to be delivered in Q3 2022 (image courtesy Proman).

The new vessels will also be built at Guangzhou Shipyard International (GSI) in China for delivery in Q4 2023, and join Proman’s expanding fleet, including its three Proman Stena Bulk methanol dual-fuel tankers, jointly owned with JV partner Stena Bulk.

The Provident and Progressive will be traded globally for shipping chemicals and clean petroleum products, enabling shipowners worldwide to experience the benefits of these state-of-the-art and 100 percent renewable-ready methanol-powered vessels.

This is a significant and exciting investment for Proman. It reflects not only our continued growth but also our commitment to leading the way to a greener shipping future. Methanol has huge potential to bridge the gap from fossil to fully renewable fuels, with its clean-burning and biodegradable qualities making it particularly attractive as a marine fuel, said David Cassidy, Chief Executive of Proman.

The Provident and Progressive will utilize the same pioneering vessel design and innovative MAN B&W 6G50ME-C9.6 MW Tier III engines as the Promise and Proman Stena Bulk-owned Stena Pro Patria, Stena Pro Mare, and Stena Prosperous.

The vessels will also be equipped with the latest energy efficiency technology, including continually controlled combustion, optimized tuning, redesigned and aerodynamic hull lines, and an energy shaft generator, reducing fuel consumption and helping to meet strict emissions criteria.

Methanol a “future-proof” marine fuel

Each vessel will use approximately 12 500 tonnes per annum of methanol as a marine fuel. Using widely available ‘grey’ methanol produced from natural gas, greenhouse gas (GHG) emissions in the vessels’ normal commercial operations will be significantly reduced compared to conventional marine fuels, including the virtual elimination of sulphur (SOx) and particulate matter (PM), 60 percent reduction of nitrogen oxide (NOx) and 10-15 percent cut in carbon dioxide (CO2).

As the second-largest global methanol producer, which we transport to all major bunkering ports, alongside our growing investment in green methanol production and vessel ownership, Proman has a presence at every part of the clean shipping value chain. By making these vessels available on the global market, we hope to encourage others to join us on this important journey towards reducing emissions from the international shipping sector, said David Cassidy.

Proman will continue to work with its trusted partners Stena Bulk for project management of the shipbuilding. Stena will also provide ship management services for the Promise, Provident, and Progressive via its subsidiary Northern Marine.

Proman’s investment in these vessels is a testament to our belief in methanol as a ‘future-proof’ marine fuel. With regulatory approval from the International Maritime Organisation (IMO) and growing take-up from some of the world’s largest shipping companies, methanol’s global availability, ease of handling and highly scalable sustainable pathway make it hard to beat as the shipping sector’s pathway fuel to the future. With the combined advances in vessel design, engine technology and the use of low-emission methanol fuel, these newbuilds will set a new benchmark for sustainable future-ready MR tankers, said Anita Gajadhar, MD of Proman Marketing, Logistics and Shipping.

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