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PROMAN STENA BULK TO ADD ADDITIONAL METHANOL-READY VESSEL

Tuesday, November 10, 2020 

The Stena Bulk / Proman Shipping joint venture has finalised an agreement to build an additional vessel, to be named 'Stena Prosperous' and which will join the 'Stena ProPatria' and the 'Stena ProMare' in the Proman Stena fleet in 2022.

Each vessel will use 12,500t/year of methanol as a marine fuel, significantly reducing emissions in normal commercial operations compared to conventional marine fuels. The new methanol-ready 49,900 dwt vessels will feature MAN dual-fuel engines with water and fuel emulsion technology, which significantly reduces NOx emissions without the need for catalytic conversion technology, continually controlled combustion, optimised tuning, plus hydrodynamic hull design, and an energy shaft generator, reducing fuel consumption and helping to meet strict emissions criteria.

For Proman Shipping, these new vessels demonstrate a long-term commitment to methanol as a marine fuel for the future, and 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 enter into a long-term time charter with Proman Shipping.

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. 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 oxide (SOx) and particulate matter completely, and cuts nitrogen oxide (NOx) emissions by 60% compared to traditional marine fuels.

Erik Hånell, President and CEO, 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. 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 whom we share many values that we believe will develop the shipping industry with new features driving improved performance and efficiency”.

David Cassidy, Proman CEO, said: “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”.

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