Stena Bulk and Proman form methanol-fuelled tanker joint venture

Stena Bulk and Proman form methanol-fuelled tanker joint venture

Switzerland’s Proman Shipping and Sweden’s Stena Bulk have formed a new joint venture, called Proman Stena Bulk, which will own and operate tankers using methanol as a fuel.

The 50-50 joint venue will initially bring in two IMOIIMAX MR methanol-powered tankers on long-term time charters.

David Cassidy, chief executive of Proman, commented: “In just 18 months since Proman Shipping’s foundation, we have made substantial advances and this joint venture with an industry leader is testament to that work. 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.”

Erik Hånell, president and CEO of Stena Bulk, added: “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.”

Proman Shipping was founded in 2018 and is based in Wollerau, Switzerland. The company currently manages a fleet of 12 time-chartered chemical tankers.

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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