Proman Stena Bulk names final methanol-powered MR tanker duo

Proman Stena Bulk, the joint venture between Stena Bulk and methanol producer Proman, has christened Stena Provident and Stena Progressive, the final two vessels in its initial six-strong methanol-fuelled tanker fleet. 

The two 49,900 DWT tankers were named at a ceremony held on November 23 at Guangzhou Shipyard International Co Ltd (GSI) in China.

The construction of Proman Stena Bulk’s fleet was executed by the shipyard over the last three years, including during the Covid-19 pandemic. 

The shipping company said that executing the newbuildings during this unique period required close collaboration between Stena Bulk, Proman, and GSI, creating a blueprint for the industry to follow as it scales up methanol-fuelled shipping over the coming decade.

The naming ceremony of the two tankers saw Miss Alicia Schnabel named as the godmother of Stena Provident, and Ambassador Marie-Claire Swärd Capra, Consul General of Sweden in Shanghai, named as the godmother of Stena Progressive.

Both vessels are 49,990 DWT dual-fuel mid-range (MR) tankers. Once operational, the ships will consume 12,000 tonnes of methanol annually. Proman Stena Bulk that this would result in reduced NOx emissions by 80%, the virtual elimination of SOx and Particulate Matter (PM), and a CO2 emissions reduction of 15% on a tank-to-wake basis compared to conventional marine fuels. 

The ships’ tanks are equipped with the industry’s high-performance polymer MarineLINE cargo tank lining, affording them greater cargo flexibility.

“Naming Stena Provident and Stena Progressive at GSI is a fantastic milestone for the Proman Stena Bulk joint venture. We now have a market-leading fleet of futureproofed methanol tankers that clearly show the way for methanol as a marine fuel,”  David Cassidy, Chief Executive of Proman, said.

“That these two tankers will be time-chartered means that more players across the market can familiarise themselves with methanol and the considerable near-term benefits it can bring to their operations.”

“Naming Stena Provident and Stena Progressive at GSI provides us with the perfect opportunity to celebrate the pivotal role that the shipyard has played in realizing our joint venture methanol-fuelled tanker fleet,” Erik Hånell, President and CEO of Stena Bulk, added.

“Together, Stena Bulk, Proman, and GSI have developed unique and industry-leading experience about how to make methanol shipping a reality; an experience that we hope to share more widely across our sector as we all work together to reach the ambitious decarbonization targets set out before us.”

Proman Stena Bulk’s tankers now account for one quarter of the currently operational methanol-fuelled ships on the water, according to data from Clarksons. 

The company said that this market share gives the joint venture ‘unique insight into methanol in operation’, and sets out a ‘clear pathway for decarbonization’ as green methanol supplies are scaled over the coming decade.