Another Venture to Secure the Future of a New Cleaner Marine Fuel

SWITZERLAND – SWEDEN – WORLDWIDE – In a serious boost to yet another new fuel aimed at the deep sea shipping sector Proman Shipping AG and Stena Bulk AB have announced a new Joint Venture partnership testing and promoting the use of methanol.

The two companies say this is a significant investment for both in an attempt to introduce new, cleaner technology. It fulfils a commitment from Proman to build a sustainable shipping sector by using the safe, clean-burning and biodegradable fuel. For Stena Bulk, an internationally renowned shipping operator, it demonstrates a commitment to be one of the leaders in the shipping industry by creating unique in-house solutions and always being in the forefront in respect of innovations. David Cassidy, Chief Executive of Proman, said:

“In just eighteen 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.

”Proman is always seeking out new and innovative ways to use Methanol, and to maximise our fully integrated, diversified platform across the whole value chain, from the production and conversion of natural gas, to the marketing and delivery of end products to customers.”

Under the agreement Proman will be the operator and 50-50 owner of two long term time-chartered ships, under the name ‘Proman Stena Bulk Limited’. Claes Leschly Bang, General Manager, Clean and Chemicals, Stena Bulk LLC pointed out that the global commercial tanker operator, has through its newly developed IMOIIMAX MR tanker fleet created a presence in the worldwide Methanol trade and the view was supported by Erik Hånell, President & CEO of Stena Bulk AB, who said:

“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. In our history we have built our success with partnerships, a success that we are pleased to share with new partners with equal views and ambitions, leading to further development in our industry allowing new or upgraded innovations that make our industry more efficient and sustainable.”

Based in Switzerland Proman is the world’s second largest methanol producer and Anita Gajadhar, MD of Proman Shipping AG, said the move represents an exciting step for the company, seeing not only a partnership with a world-leading shipping operator, but also investment in the use of more sustainable marine fuels without compromising on efficiency.