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Proman Stena Bulk orders methanol tanker pair at GSI

Proman Stena Bulk, the joint venture formed last month by Switzerland’s Proman Shipping and Sweden’s Stena Bulk, has signed contracts with Chinese yard Guangzhou Shipyard International (GSI) to build two 49,900dwt IMOIIMeMAX methanol-ready tankers.

The vessels, which are due for delivery in 2022, will have dual-fuel engines and run on methanol which Proman Stena Bulk says offers a more than 95% reduction in sulphur oxide and a 60% reduction in nitrogen oxide.

David Cassidy, chief executive of Proman, commented: “GSI have a proven track record with their 13 previous IMOIIMAX vessels for Stena Bulk, and we are very pleased to have reached this agreement with them to build our pioneering new methanol tankers. Methanol is a readily available liquid fuel that meets the strictest emissions criteria, and it has huge global potential as a proven substitute for conventional bunker fuels, as well as more widely for power generation and as a high-octane addition to the gasoline fuel pool.”

Erik Hånell, president and CEO of Stena Bulk, added: “We from Stena Bulk are looking forward to being back in a well known shipyard to us, where we know that they will deliver what is expected: a high level of experience including care, innovation and performance. We are really looking forward to doing this with Proman, as a new high-caliber partner with similar values that we know will develop both ship design and some exciting new features in driving improved performance of the ships.”

The tankers will be 50/50 owned and be chartered to Proman Shipping on long term charter.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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