Proman Stena Bulk And GSI Sign Deal For New Methanol Powered Tankers

Proman Stena Bulk And GSI Sign Deal For New Methanol Powered Tankers

Proman Stena Bulk And GSI Sign Deal For New Methanol Powered Tankers

Proman Stena Bulk Ltd has signed an agreement with Guangzhou Shipyard International (GSI) in China for two states of the art IMOIIMeMAX methanol-ready 49,900 DWT vessels. The first vessel is scheduled to be delivered at the beginning of 2022. This is the first deal that has been signed by the newly-made joint venture between Swedish Stena Bulk and the Swiss-based Proman Shipping.

After the major development and towing tank tests by GSI and Stena Bulk for their 2015 – 2018 series, the IMOIIMeMAX line of vessels are one the most energy-efficient mid-range tankers that exist.

To support the commitment of Proman Shipping to contribute in making a sustainable shipping industry, the latest generation of dual-fuel engines will be used in both the vessel and the vessels will also be run on methanol that is coming up rapidly as the most viable, low emission and cost-effective marine fuel.

Methonal is available at more than 100 ports in the globe and boasts CAPEX cost majorly and safety advantages when compared to fuels like LNG. Methanol will also help in meeting the commitment of IMO to reduce the emission of carbon by 40% by 2030 and reduce GHG emission by 50% by 2050. Methanol also reduces sulfur oxide and particulate matter by over 95% and reduces nitrogen oxide by 60%.

David Cassidy, Chief Executive of Proman, said:

“GSI have a proven track record with their 13 previous IMOIIMAX vessels for Stena Bulk, and we are very pleased to have reached this agreement with them to build our pioneering new methanol tankers. Methanol is a readily available liquid fuel that meets the strictest emissions criteria, and it has huge global potential as a proven substitute for conventional bunker fuels, as well as more widely for power generation and as a high-octane addition to the gasoline fuel pool.”

Erik Hånell, President and CEO of Stena Bulk said, “We from Stena Bulk are looking forward to being back in a well known shipyard to us, where we know that they will deliver what is expected: a high level of experience including care, innovation and performance. We are really looking forward to doing this with Proman, as a new high-caliber partner with similar values that we know will develop both ship design and some exciting new features in driving improved performance of the ships.”

Anita Gajadhar, MD of Proman Shipping, said:

“The proven energy-efficient credentials of the IMOIIMeMAX vessels, combined with the clean-burning and biodegradable qualities of methanol as a marine fuel, mean that these new Proman Stena Bulk vessels will be truly future-ready.”

The ownership of the two ships will be 50/50. After delivery, it will owned by Proman Shipping on long term charter. About 12,500 mt/year of methanol will be used by each vessel.

Reference: Stenabulk

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