Proman, Stena Bulk methanol-fuelled ship nears delivery

: Biofuels, Oil products, Petrochemicals
21/11/04

Shipowner Stena Bulk and methanol producer Proman's first methanol-fuelled tanker will be delivered in the first quarter of 2022.

The 49,900dwt tanker Stena Pro Patria is being built at Guangzhou Shipyard International (GSI), the first Chinese shipyard to build a dual-fuelled methanol ship.

It has now been launched into the water where the remainder of construction will take place. Delivery will happen after sea trials.

Stena Bulk and Proman have together invested in five methanol-fuelled medium-range (MR) tankers, all of which will be built by GSI and delivered by the end of 2023.

The ship was ordered along with the Stena ProMare in 2019 and a third order, the Stena Prosperous, was added in 2020.

Stena Bulk and Proman then ordered a further two methanol-fuelled ships, [Provident and Progressive] (https://direct.argusmedia.com/newsandanalysis/article/2229721), in June this year. Proman is also the sole owner of another duel-fuelled methanol vessel, Promise, which is due to be delivered in the third quarter of 2022.

German engineering company MAN Energy Solutions will provide the engines for the ships. MAN will also be supplying the engines for shipping firm Maersk's nine dual-fuel methanol-fuelled containerships.

Each of Proman and Stena Bulk's vessels will use around 12,500 t/yr of methanol as fuel which they intend to source primarily from Proman's own methanol production.

Bio or synthetic methanol is a long-term carbon-neutral marine fuel, but has to be produced by electrolysis using renewable energy. Grey methanol is commercially produced using natural gas, and it is this version that Stena Bulk and Proman intend to start using.

Grey methanol emits around 10pc fewer greenhouse gases (GHGs) than 0.5pc sulphur fuel oil when burnt in a ship engine, but offers near total reduction of sulphur and particulate matter emissions. It also reduces nitrogen oxide emissions by 60pc.

The cost and availability of green methanol, which would reduce GHG emissions by around 80pc, remains a significant challenge. Maersk will require around 350,000 t/yr of green methanol for its nine vessels, compared with an estimated 2021 global supply of just 30,000t.

Argus assessed bunker methanol at the port of Rotterdam in the week ended 1 November at $1,027/t on a 0.5pc sulphur fuel oil-equivalent basis, almost double the price of 0.5pc fuel oil in Amsterdam-Rotterdam-Antwerp (ARA).

By Nana Kutin

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