Methanol-fuelled tanker named in Singapore

Proman Stena Bulk has named the final methanol-fuelled tanker in a six-ship series ordered in 2019. The 49,900dwt IMOIIMeMAX Stena Prosperous, built at Guangzhou Shipyard International Co Ltd in China, was christened during a ceremony at the Marina Bay Cruise Centre in Singapore.

After the event, the tanker was due to be bunkered with a 20/80 mix of green/conventional methanol blend which, the company claims, yields carbon dioxide equivalent savings of 31% compared with using very low sulphur fuel oil. The fuel also reduces emissions of particulate matter, sulphur oxides and nitrogen oxides.

The methanol blend enables a reduction in greenhouse gas emissions below the 2025 FuelEU Maritime target. This, the company said, further underline methanol’s viability as a pathway fuel. Furthermore, by increasing the amount of green methanol in the mix as production ramps up, shipowners can deliver on the pathway for emissions reductions set by the IMO and the European Union, the company pointed out.

Proman chief executive, David Cassidy, said: “Singapore is the world’s most important bunkering hub, so it’s fantastic to celebrate the naming of the Stena Prosperous here, as we also celebrate the role methanol is playing in the decarbonisation of the industry. With its cleaner burning qualities, methanol delivers immediate air quality benefits today, and the pathway demonstrated by our 20/80 blending strategy here in Singapore means that shipowners are also increasingly seeing it as a viable marine fuel for the future.”

Stena Prosperous has benefited from the Low Emission Methanol Shipping Company (LEMSCO) Fund created to support funding for sustainable investments under Article 9 of the EU’s Sustainable Finance Disclosure Regulation. Established by Proman and Stena to support shipping and infrastructure projects required for the energy transition, LEMSCO already holds the Proman Stena Bulk fleet. It can also provide finance structures to support third-party owners as they invest in sustainable shipping for the energy transition.