Proman and Stena in new joint methanol initiative
The global shipping industry is responsible for approximately 2.9% of global greenhouse gas emissions, which is equivalent to nearly one billion metric tons of CO2 each year. The transition to low-carbon fuels will be key to securing the industry’s long-term future and meeting IMO emissions reduction targets for 2030 and 2050, but the technologies still under development and the long life of existing vessels make this challenge even greater. Currently, there are over 70,000 ships with an average lifespan of around 25-30 years. Finding a low-emission fuel for these vessels is no easy task, but now is the time to accelerate the transition. Methanol not only offers immediate and urgently needed benefits, but the only clear path to a sustainable future.
Proman, one of the world’s largest producers of methanol, decided together with Stena, a private shipping company operating around 140 ships, to take on this challenge. Proman and Stena have committed to jointly develop a retrofit and supply solution, allowing Stena’s vessels as well as third-party vessels to enjoy the immediate environmental benefits and greenhouse gas emission reductions provided by the methanol.
By switching to clean fuel, methanol-powered ships can lead the transition to a low-carbon future and significantly reduce greenhouse gas emissions generated by conventional petroleum-based fuels, bringing an immediate improvement in air quality around ports and shipping lanes. Sulfur oxides (SOx) and particulate emissions are virtually eliminated, carbon dioxide (CO2) emissions reduced and nitrogen oxides (NOx) reduced by approximately 60%. Additionally, the biodegradable and water-soluble qualities of methanol significantly reduce the risks to marine environments.
Proman and Stena have unique complementary skills allowing them to jointly offer a turnkey solution for the shipping industry to benefit from a methanol-based pathway to a sustainable low-carbon future. In 2015, Stena was the first shipowner in the world to convert a large vessel to methanol with an existing partner.
Since then, the vessel has been operated safely and conveniently, demonstrating the potential for using methanol as a marine fuel. Methanol produced from natural gas provides an immediate CO2 reduction that will be further reduced to over 90% as renewable and sustainable methanol becomes more widely available as a marine fuel.
Per Westling, CEO of Stena RoRo, said: “We believe methanol is a clear forerunner in shipping’s search for fuels beyond the fossil fuel default and we are proud to play our part in helping to grow the market. alternative fuels in maritime transport. We already converted Stena Germanica to methanol in 2015 with another current partner, which gives us valuable experience from both a conversion and operational perspective.
Plans for a retrofit and supply solution build on the previously announced joint venture between Stena Bulk and Proman for three methanol-ready tankers. The first of these vessels, the 49,900 dwt Stena Pro Patria, will be delivered in early 2022, and three other Proman-owned but jointly operated dual-fuel vessels are due for delivery in 2023.
Carl-Johan Hagman, CEO of Stena Rederi, said: “This announcement builds on the exciting and successful partnership that Stena Bulk has already forged with Proman and gives Stena another opportunity to explore the use of methanol on a wider scale. of types of ships.
David Cassidy, Managing Director of Proman, said: “Methanol is the only alternative marine fuel available that delivers immediate reductions in emissions, dramatically improving air quality and providing a clear path to decarbonizing shipping for 2050 and beyond. Unlike other alternative marine fuels, methanol uses existing technology and is safe and widely available. Proman’s partnership with Stena has gone from strength to strength. Our combined vision is to dramatically accelerate the energy transition in shipping and not just talk about changing our environment, but make it happen. We will leverage the ambition and expertise of both companies to make methanol more widely available to shipowners around the world and help them join us in the transition to a cleaner shipping industry.
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