Shipowning partners Stena and Proman are teaming up again, this time to give other owners access to their methanol-fuelling retrofit technology.
The Retrofit & Supply venture aims to widen the use of this emissions-reducing propulsion method.
More of Stena's own ships will be retrofitted, as well as those controlled by third parties.
Swiss group Proman — one of the world's largest producers of methanol — and Sweden's Stena see themselves as having "uniquely complementary skills" to offer what they call a turnkey solution for decarbonisation.
A retrofit will give an immediate CO2 reduction that will be further reduced to more than 90% as renewable and sustainable methanol becomes more widely available for bunkering, they said.
Sulphur oxides and particulate matter emissions are practically eliminated, while nitrogen oxides are cut by 60%.
First large vessel conversion in 2015
In 2015, Stena was the first owner in the world to convert a large vessel to methanol power.
The group committed $22m to a retrofit of the 1,300-passenger ferry Stena Stena Germanica (built 2001).
Per Westling, chief executive of Stena RoRo, said: "We believe that methanol is a clear frontrunner in shipping’s search for fuels beyond the fossil default and we are proud to be playing our part to help build the market for alternative fuels within shipping."
The plans for Retrofit & Supply build on a previously announced joint venture between tanker arm Stena Bulk and Proman for three methanol-ready tankers at Guangzhou Shipyard International in China.
The first of these vessels — the 49,900-dwt Stena Pro Patria — will be delivered in early 2022, with a further three Proman-owned but mutually operated dual-fuel vessels due in 2023.
Carl-Johan Hagman, chief executive of Stena Rederi, said: "This announcement builds on the exciting and fruitful partnership that Stena Bulk has already forged with Proman and gives Stena another avenue to explore the use of methanol on more ship types."
Existing technology used
Proman chief executive David Cassidy added that methanol is the only available alternative marine fuel that offers immediate emissions reductions, dramatically improving air quality and delivering a clear shipping decarbonisation pathway for 2050 and beyond.
"Unlike other alternative marine fuels, methanol utilises existing technology and is safe and widely available," he said.
"We will leverage both companies' ambition and expertise to make methanol more widely available to vessel owners around the world and help them to join us on the transition to a cleaner shipping industry."
Tanker to be offered to the market
The joint venture's third tanker newbuilding — the Stena Prosperous — will be the first such vessel offered to the global market without a contract to a methanol producer.
The plan is to use the ship initially in Stena Bulk's pools for two to three years.
The vessel will then enter into a long-term time charter with Proman's Proman Shipping division.
TradeWinds has reported the price tag on previous ships at $41m.
Each tanker will use 12,500 tonnes per year of methanol as a marine fuel.
