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News / Alternative Fuels/ Proman Shipping in methanol-fuelled JV with Stena Bulk

Proman Shipping in methanol-fuelled JV with Stena Bulk

03 Oct 2019
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Proman Shipping AG and Stena Bulk AB on Thursday (3 October) announced a new Joint Venture (JV) partnership where Proman will be the operator and 50-50 owner of two long term time-chartered ships, under the name ‘Proman Stena Bulk Limited’.

The JV will use methanol as a marine fuel to power both IMOIIMAX MR tankers chartered by Proman Shipping.

“In just eighteen months since Proman Shipping’s foundation, we have made substantial advances and this Joint Venture with an industry leader is testament to that work,” said David Cassidy, Chief Executive of Proman.

“We are proud to be one of only three companies actively engaged in promoting Methanol as a marine fuel, through this partnership with Stena Bulk.

“Proman is always seeking out new and innovative ways to use Methanol, and to maximise our fully integrated, diversified platform across the whole value chain, from the production and conversion of natural gas, to the marketing and delivery of end products to customers.”

“This is an exciting step for Proman Shipping, which sees us not only partner with a world-leading shipping operator, but also invest in the use of more sustainable marine fuels without compromising on efficiency,” said Anita Gajadhar, MD of Proman Shipping AG.

“We are proud to be partnering with Stena Bulk, who share our commitment to innovation and to be pioneering the use of Methanol as a fuel of the future together.”

“This is a new important stepstone for Stena Bulk. We are very satisfied to find a partner like Proman, which has many shared values, giving us this opportunity to enter into their future logistical ambitions,” said Erik Hanell, President & CEO of Stena Bulk AB.

“In our history we have built our success with partnerships, a success that we are pleased to share with new partners with equal views and ambitions, leading to further development in our industry allowing new or upgraded innovations that make our industry more efficient and sustainable.”

“We as a global commercial tanker operator, have through our newly developed IMOIIMAX MR tanker fleet created our presence in the worldwide Methanol trade,” said laes Leschly Bang, General Manager, Clean and Chemicals, Stena Bulk LLC.

“With Proman as a new strategic partner, we are very satisfied that all our hard work is coming to fruition not only meaning that we can support a very important customer but also create a new joint venture together that we put high value on in respect of culture and vision, taking us a few steps into the future with the ships we will now build together.”

Photo credit: Stena Bulk
Published: 4 October, 2019

 

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