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Proman Stena Bulk to order third methanol powered tanker vessel

UK-based Proman Stena Bulk Ltd, a joint venture between Proman Shipping AG and Sweden-headed Stena Bulk AB, has announced has finalized an agreement to build an additional vessel under its joint venture partnership. The methanol-powered Stena Prosperous will join the Stena ProPatria and the Stena ProMare in the Proman Stena fleet in H2 2022.

Proman Stena Bulk Ltd has finalized an agreement to build an additional vessel under its joint venture partnership. The methanol-powered Stena Prosperous will join the Stena ProPatria and the Stena ProMare in the Proman Stena fleet in H2 2022. An artist’s rendering of the Stena Prosperous (image courtesy Stena Bulk).

These new methanol-ready 49 900 DWT vessels will be state of the art, benefitting from design- and technical improvements to optimise energy and fuel efficiency. The latest generation MAN dual-fuel engines will feature revolutionary new water and fuel emulsion technology, which significantly reduces nitrogen oxide (NOx) emissions without the need for costly catalytic conversion technology.

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

Ahead of IMO

For Proman Shipping, these new vessels demonstrate a long-term commitment to methanol as a marine fuel for the future. Ahead of the International Maritime Organisation’s (IMO) updated strategy to cut greenhouse gas (GHG) emissions from the global shipping industry, due to be adopted in 2023, these vessels will set a new benchmark for mid-range (MR) tanker sustainability.

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.

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. The vessels’ state-of-the-art fuel consumption and engine technology represent an important step in the move towards more sustainable shipping. 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, said David Cassidy, Chief Executive of Proman.

Confidence in methanol as a viable low-emission fuel

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.

The companies point out that methanol is already 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 carbon dioxide (CO2) emissions, eliminates sulphur oxides (SOx) and particular matter (PM) completely, and cuts NOx emissions by 60 percent compared to conventional marine fuels.

For Stena Bulk, an internationally renowned shipowner, it further demonstrates the company’s commitment to developing methanol as a widely available and usable marine fuel, aiming to promote and encourage a pathway to a greener shipping future.

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. We see the strength in our joint commitment leading to new and exciting opportunities for us. 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 with whom we share many values that we believe will develop the shipping industry with new features driving improved performance and efficiency, said Erik Hånell, President and CEO of Stena Bulk.

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