Proman Stena Bulk has signed an agreement to construct an additional methanol-powered vessel under its joint venture partnership.

Stena Prosperous vessel will join the Stena ProPatria and the Stena ProMare vessels in the Proman Stena fleet in the second half of 2022.

Each vessel will use 12,500t of methanol as a marine fuel a year, which will significantly reduce emissions.

The 49,900 dwt vessel will feature several design and technical improvements to optimise energy and fuel efficiency.

The vessel will be equipped with the latest energy efficiency technology, including optimised tuning, redesigned and aerodynamic hull lines, continually controlled combustion, and an energy shaft generator.

The latest generation MAN dual-fuel engines will considerably reduce NOx emissions without requiring expensive catalytic conversion technology.

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By GlobalData

Ahead of the International Maritime Organisation’s (IMO) updated policy to cut greenhouse gas emissions from the global shipping industry that will be imposed in 2023, the vessels will set a new target for mid-range (MR) tanker sustainability.

Stena Bulk will initially use Stena Prosperous for a period of two to three years. It will become the first methanol dual-fuel powered ship traded on the chemicals / CPP market by a conventional shipowner without having an active contract to a methanol producer.

Following the initial period, Stena Prosperous will enter a long-term time charter with Proman Shipping.

Stena Bulk CEO and president Erik Hånell 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.”

Proman chief executive David Cassidy 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.”