Proman Stena Bulk JV names third methanol-fuelled tanker

The 50,000-dwt vessel is the third built for the Proman Stena Bulk joint venture (JV) that has a dual-fuel engine capable of running on methanol fuel.

Proman Shipping and Stena Bulk agreed their 50-50- joint venture in 2019. Initially, the JV was for three long-term time-chartered vessels and later the JV extended the agreement to cover three additional Proman-owned vessels. In total, Proman Shipping operates four methanol-fuelled tankers, with two more due for delivery by 2024.

Proman Shipping parent company Proman specialises in natural gas-derived products including methanol, and actively promotes methanol’s use as a marine fuel.

"During its commercial operations, Stena Promise has already been operating full time on conventional methanol from natural gas. The vessel will use approximately 11,500 tonnes of methanol as fuel per year, significantly reducing greenhouse gas emissions compared with conventional marine fuels," a statement from the JV said.

Proman chief executive David Cassidy said, “Stena Promise is the third state-of-the-art methanol tanker we have brought to market with Stena Bulk, and the first fully Proman-owned vessel in our fleet. It is a very special vessel for us, and it is fantastic to be able to use its naming ceremony as a driver to convene with partners, friends and industry leaders in Rotterdam at a pivotal time for the shipping industry’s low-carbon transition. We need to ensure regulatory incentives and market-based measures continue to drive capital to projects which can deliver real, meaningful and immediate emissions reductions. And to do that, we need to work with partners across the entire industry and shipping value chain to make green shipping a reality.”