Proman Stena Bulk Launches Final Methanol-Fueled Tanker

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Proman Stena Bulk, the joint venture between Stena Bulk and Proman, has formally christened Stena Prosperous during a ceremony at the Marina Bay Cruise Centre in Singapore.

Stena bulk’s joint venture 

Stena Prosperous is the last of six vessels in Proman Stena Bulk’s joint venture fleet to be formally named, following the order for the six methanol-fuelled tankers being placed in 2019, and the first vessel being delivered in June 2022.

After the ceremony, the 49,900 DWT IMOIIMeMAX vessel will be bunkered with a 20/80 green/conventional methanol blend, which delivers CO2e savings of 31% compared to the same voyage operated on Very Low Sulphur Fuel Oil (VLSFO), while making additional particulate matter (PM), sulphur oxides (SOx), and nitrogen oxides (NOx) savings.

Today, all six vessels are in commercial operation, running on methanol. Two of the vessels are long-term time-chartered to provide the market with opportunities to gain wider operational experience of methanol as a marine fuel.

Stena Prosperous has benefited from the $300m already invested by the Low Emission Methanol Shipping Company – the LEMSCO Fund – an industry-first investment fund targeting sustainable investments under Article 9 of the EU’s Sustainable Finance Disclosure Regulation.

LEMSCO Fund 

The LEMSCO Fund was established by Proman and Stena to deliver the critical shipping and associated infrastructure needed for the energy transition. While LEMSCO already holds Proman Stena Bulk’s joint venture fleet, the Fund can also provide financing solutions to enable other third-party vessel owners to transition their own vessel fleets.

 The six-ship fleet is currently crewed and operated by Stena Sphere company Northern Marine Group, who have highlighted the technical similarities of the tankers to conventionally fuelled vessels, meaning that they do not require a completely new set of operating procedures.

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Source : Safety4sea