Proman, Stena Bulk receives first methanol vessel

The joint venture between Swedish-based Stena Bulk and global methanol producer Proman today received its first methanol-powered newbuild vessel.

The 49,990 dwt Stena Pro Patria will consume 12,500 t/yr of methanol marine fuel sourced from Proman's production. It will load methanol marine fuel in Ulsan, South Korea, before beginning commercial operations.

Stena Bulk and Proman ordered six methanol-fuelled medium-range (MR) tankers in 2019. Following the Stena Pro Patria, the Stena Pro Marine and the Stena Promise will be delivered later this year with the Stena Prosperous, Stena Provident and Stena Progressive in the future.

The Stena Pro Patria has a dual-fuel engine provided by German engineering company MAN Energy Solutions, capable of running conventional fuels including marine gasoil (MGO) and fuel oil.

Methanol is considered by the bunkering industry as a alternative, low-carbon fuel option. Argus began assessing methanol marine fuel in August 2021 with prices assessed at the Amsterdam-Rotterdam-Antwerp (ARA) hub, the US Gulf Coast, and in southeast Asia. Methanol marine fuel was most recently assessed at a $149.5/t premium to VLSFO in ARA.

By James Marriott