Stena Bulk of Sweden and Proman Shipping of Switzerland have joined forces, launching Proman Stena Bulk Limited to jointly own and operate methanol-fuelled product tankers
Proman Stena Bulk Limited will operate ’IMOIIMeMax’ chemical and product tankers under long-term charters from Stena Bulk.
Proman Shipping’s chief executive David Cassidy said “In just eighteen months since Proman Shipping’s foundation, we have made substantial advances and this joint venture with an industry leader is testament to that work. We are proud to be one of only three companies actively engaged in promoting methanol as a marine fuel, through this partnership with Stena Bulk.”
“Proman Shipping is always seeking out new and innovative ways to use methanol, and to maximise our fully integrated, diversified platform across the whole value chain, from the production and conversion of natural gas, to the marketing and delivery of end products to customers.”
Proman Shipping’s managing director Anita Gajadhar said “This is an exciting step for Proman Shipping, which sees us not only partner with a world-leading shipping operator, but also invest in the use of more sustainable marine fuels without compromising on efficiency. We are proud to be partnering with Stena Bulk, who share our commitment to innovation and to be pioneering the use of methanol as a fuel of the future together.”
Proman’s key expertise is in project managing gas-derived products from facilities designed and constructed by the group. Proman began producing gas-derived products in 1993 with the construction and start-up of the 500,000-tonne-per-year Caribbean Methanol Company (CMC, now known as M2) plant on the Point Lisas Industrial Estate in Trinidad and Tobago. Products include methanol, anhydrous ammonia, urea ammonium nitrate and melamine. As well as Trinidad and Tobago, Proman has operations and offices in Switzerland, Germany, Italy, the United States, Portugal and Mexico which have a combined annual installed production capacity of more than 10M tonnes of bulk chemicals.
In November 2018, Proman Shipping and Mitsui OSK Lines (MOL) held a naming ceremony for a newbuild methanol carrier for Proman Shipping at the Hyundai Mipo Drydock in South Korea.
The 50,000-dwt chemical and product tanker was named Castara. Methanol Holdings (Trinidad) Limited’s chief executive Dennis Patrick said “Castara is Proman Shipping’s first 50,000-dwt vessel and will become the largest vessel in the Proman Shipping fleet. This milestone is testament to our valued and long-term partnership with MOL.”
Methanol is being seen as one of the available fuels to bridge between IMO 2020 and GHG 2050. Bridge-fuels will be discussed during the “Fuels in Focus” session of the Asian Sulphur Cap 2020 Conference. This will be held 15-16 October in Singapore.