Proman Stena Bulk has ordered what it said will be the world's first dual-fuel methanol tanker available to the general market.
The joint venture between Swiss methanol producer Proman and Swedish shipowner Stena Bulk said a new 49,000-dwt MR has been contracted at Guangzhou Shipyard International (GSI) in China for delivery in 2022.
The vessel — named Stena Prosperous — is the third in the innovative series at the yard.
The new tanker will initially be used by Stena Bulk in its pool of ships for a period of two to three years.
No active contract
The vessel will therefore be the first methanol-powered ship working clean product and chemicals trades without an active contract to a methanol producer.
After this initial period, the Stena Prosperous will then enter into a long-term time charter with Proman Shipping, the vessel arm of the world's second-largest methanol producer.
Proman chief executive David Cassidy said: "These new vessels demonstrate our commitment to leading the transition towards methanol as a reliable marine fuel and are an exciting development for us as vessel owners.
"In making [the] Stena Prosperous available to the general market for the transportation of chemicals, we seek to encourage other producers to gain experience with these innovative methanol-powered vessels and to benefit from the significant reduction in emissions that operating these vessels will deliver."
The companies said the deal underlines their confidence in methanol as one of the most viable and low-emission future marine fuels. They also want to make the fuel available to other shipowners.
New technology
The first two vessels were ordered a year ago, with two options believed to be attached. TradeWinds has reported the price tag at $41m.
Each tanker will use 12,500 tonnes per year of methanol as a marine fuel, significantly reducing emissions in their normal commercial operations compared to conventional bunkers.
The MAN dual-fuel engines will feature "revolutionary" new water and fuel emulsion technology, which significantly reduces NOx emissions without the need for costly catalytic conversion technology, the joint venture said.
Methanol is already available at more than 100 ports worldwide, including at all major bunkering hubs.
Stena Bulk chief executive Erik Hanell said: "It is in Stena Bulk's objectives to contribute to making the shipping industry more sustainable.
"This joint venture is taking us in that direction with a partner [with] whom we share many values that we believe will develop the shipping industry with new features driving improved performance and efficiency."
