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Stena Bulk News

13 Feb 2024

Stena Bulk Inks Deal for Four Additional Newbuild Tankers

Erik HĂĄnell, President and CEO of Stena Bulk (Credit: Stena Bulk)

Swedish shipping company Stena Bulk has expanded its fleet with new long-term charter agreements for four newbuild eco Medium Range (MR) tankers.Two of the vessels, Stena Continent and Stena Conquest, will be delivered from Hyundai Mipo by the end of 2025.Two further eco MR tankers, Stena Contender and Stena Concept, will follow in 2026. All vessels are set to use the South Korean yard’s latest 8th generation MR tanker design, which has been recognized for its excellent efficiency performance.The tankers will feature efficient fuel consumption systems…

31 Jan 2024

Navigating Disruption: CMA Shipping 2024 Unveils Agenda and Speaker Lineup

Knut Orbeck-Nilssen, Chief Executive Officer, DNV (Photo: CMA Shipping)

C-Suite leaders of ABS, Panama Canal Authority, BIMCO, INTERCARGO, IACS, DNV, Stena Bulk, Hapag-Lloyd, IBIA, International Seaways and many more have been announced for the conference lineup at CMA Shipping 2024.With just six weeks to go, eager anticipation is growing for the 39th edition of CMA Shipping taking place in Stamford, Conn., from March 12-14, 2024.The conference agenda promises to highlight pertinent issues surrounding the future of shipping, and how the industry can navigate challenges such as the energy transition, crewing and education, safety and compliance.

18 Jan 2024

Bahri Charters Methanol-fueled Tanker Pair

(Photo: Proman)

Bahri business unit Bahri Chemicals will charter two newbuild methanol-powered tankers under a five-year agreement with methanol producer Proman. The vessels, which were officially named during a ceremony hosted at Guangzhou Shipyard International (GSI) in China in November 2023 where both ships were built, will be deployed to transport various products globally.The vessels are the final two of an initial six-strong methanol-fueled tanker fleet commissioned through the partnership between Proman and Stena Bulk.

12 Jan 2024

Stena Bulk Halts Tanker Transits in Red Sea

(Photo: Stena Bulk)

Tanker company Stena Bulk halted transits in the Red Sea early on Friday Central European Time, its CEO Erik Hannel told Reuters.It is the latest tanker operator to cease traversing the key shipping corridor following an advisory from the Combined Maritime Forces to stay clear of the region after the launch of U.S. and British air strikes on Houthi forces in Yemen.(Reuter - Reporting by Natalie Grover; editing by Mark Heinrich)

09 Nov 2023

Sustainable Fund Launched for Methanol Fleet

Source: ProMarine

ProMarine AG has launched an industry-first sustainable shipping fund with an initial portfolio of four methanol-fuelled MR tankers led by Proman and Stena Bulk.Low Emission Methanol Shipping Company S.C.A. SICAV–RAIF (LEMSCO) is the result of a collaboration between Proman and Stena Bulk. The fund is backed by equity investors and benefits from a green loan from ABN AMRO. LEMSCO's seed assets consist of four methanol fuelled vessels acquired from Proman and Stena Bulk: Stena Pro Patria…

25 Oct 2023

Proman Stena Bulk Names Methanol-fueled Tanker

Stena Pro Marine (Photo: Proman Stena Bulk)

Proman Stena Bulk, the joint venture between tanker company Stena Bulk and methanol producer Proman, formally christened its methanol-fueled tanker Stena Pro Marine during a ceremony at the Port of New Orleans.Delivered in mid-2022, the newbuild is a 49,990 DWT dual-fuel mid-range (MR) tanker constructed at Guangzhou Shipyard International Co Ltd (GSI) in China. The ship has been in full-time operation since its delivery and consumes 12,500 tonnes of methanol annually.Burning methanol onboard eliminates local pollutants like SOx and particulate matter (PM)…

04 Aug 2023

Concordia Maritime Sells Two Product Tankers

(Photo: Christian Badenfelt / Concordia Maritime)

Concordia Maritime on Friday announced it has entered into an agreement to sell two of its product tankers. The vessels are the 65,200 dwt Stena Progress and the 65,200 dwt Stena Premium, built in 2009 and 2011 respectively.After repayment of loans and liabilities to related parties, the transaction generates a liquidity supplement of approx. SEK 100 million (approximately US$9.5 million), Concordia Maritime said. The remaining debts are current operating liabilities.“With the sale, we continue to take advantage of the strong market and the high prices for older vessels.

25 Jul 2023

MARAD Announces First Ships Enrolled in the Tanker Security Program

(Photo: Overseas Shipholding Group)

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced on Tuesday that nine ships have been enrolled in the Tanker Security Program (TSP), a newly created public-private partnership program that makes U.S.-flag commercial product tankers available to support U.S. armed forces and national economic security.“Today we are announcing the first ships to join the Tanker Security Program, which will help strengthen both our supply chains and our national security…

27 Jun 2023

Specialist Training Provider Joins the Methanol Institute

Source: The Methanol Institute

The Methanol Institute has welcomed multi-disciplinary methanol consultancy GREEN MARINE as its latest member. The Denmark-headquartered company has recently finalised a specialist training program for crew onboard methanol dual-fuel vessels.A recent report commissioned by the Maritime Just Transition Task Force Secretariat predicts a rise in the number of seafarers needing training on alternative fuel technologies in the 2040s to between 310,000 and 750,000 people.The curriculum…

29 May 2023

Methanol Institute Publishes Guide to Methanol as a Marine Fuel

Source: Methanol Institute

The Methanol Institute (MI) has published the first comprehensive guide to methanol as a marine fuel.“Marine Methanol Future-Proof Shipping Fuel” includes sections that address regulatory drivers, environmental performance, engines and fuel systems, bunkering, handling and safety characteristics, costs and pricing, availability and feedstocks for conventional and renewable product. Also included are case studies on first movers including AP Moller-Maersk, Waterfront Shipping,…

03 May 2023

Concordia Maritime Sells 13-year-old Product Tanker

Stena Penguin (Photo: Concordia Maritime)

Concordia Maritime announced Wednesday it has entered into an agreement to sell its 13-year-old product tanker Stena Penguin to an unnamed European buyer.The 65,200 dwt Stena Penguin is scheduled to be delivered to its new owner during the second quarter of 2023.Overall, the sale is expected to have a positive liquidity effect of approximately SEK 215 million (about $20.9 million) after repayment of the remaining bank debt to Svenska Skeppshypotek, Concordia said.Concordia Maritime CEO, Erik Lewenhaupt, said, “We are now divesting another vessel with a good margin.

01 May 2023

US Gulf Coast’s First Barge-to-ship Methanol Bunkering Completed

Stena Prosperous (Photo: Proman Stena Bulk)

Proman Stena Bulk, the joint venture between tanker company Stena Bulk and methanol producer Proman, announced the successful completion of the first ever barge-to-ship methanol bunkering on the U.S. Gulf Coast.The JV tankers Stena Pro Marine and Stena Prosperous were refueled with methanol via barge while discharging clean petroleum products at a terminal in the Port of Houston in the first week of April.Stena Pro Marine was bunkered with 1,408MT of methanol, and Stena Prosperous was refueled with 1,203MT during the operation.

23 Mar 2023

Oil Spills and Near Misses: More Ghost Tankers Ship Sanctioned Fuel

© komi$ar / Adobe Stock

An oil tanker runs aground off eastern China, leaking fuel into the water. Another is caught in a collision near Cuba. A third is seized in Spain for drifting out of control.These vessels were part of a "shadow" fleet of tankers carrying oil last year from countries hit by Western sanctions, according to a Reuters analysis of ship tracking and accident data and interviews with more than a dozen industry specialists.Hundreds of extra ships have joined this opaque parallel trade…

15 Dec 2022

Proman Stena Bulk Takes Delivery of Another Methanol-fuelled Tanker

Stena Prosperous - ©Proman Stena Bulk

Proman Stena Bulk, a JV between shipowner Stena Bulk and methanol producer Proman, has taken delivery of a methanol-fuelled tanker, Stena ProsperousDelivered by Guangzhou Shipyard International Co Ltd (GSI) the 49,990 DWT vessel will now enter commercial operation, running fully on methanol. "The delivery caps a marquee year for the joint venture, which now has four vessels actively trading and bunkering fully on the low-emission future fuel," the companies said.The fourth ship joins the Proman Stena Bulk-owned Stena Pro Patria and Stena Pro Marine…

24 Nov 2022

Proman Stena Bulk Names Its First Methanol-fueld Tanker in Trinidad & Tobago

During the unveiling of the vessel name, Dr. the Honourable Keith Rowley, Prime Minister of Trinidad and Tobago, Mr. David Cassidy, Chief Executive of Proman, Mr Erik Hånell, President & CEO Stena Bulk AB and Mrs. Cassandra Patrick, Godmother of the vessel look on - ©Proman Stena Bulk

In a ceremony held in Trinidad and Tobago on November 23, 2022, Proman Stena Bulk Ltd formally named its first newbuild IMOIIMeMAX methanol-fueled 49,900 DWT vessel, Stena Pro Patria.Stena Pro Patria is the first of three methanol-fueled vessels delivered in 2022 to the joint venture between tanker company Stena Bulk and the methanol producer Proman, with a further three newbuilds due for  delivery between now and 2024.The naming ceremony was the first for a methanol-fueled newbuild in Trinidad and Tobago, and was attended by Trinidad and Tobago’s Prime  Minister, Dr.

05 Oct 2022

New Project Aims to Capture Carbon Emissions Onboard Oil Tanker

A consortium made up of global energy and shipping organisations announced on Wednesday that they will start a project to build and test a carbon capture system onboard an oil tanker for the next two years.The project onboard a medium-range tanker owned by shipping firm Stena Bulk is targetting at least 30% absolute carbon dioxide capture, or about 1,000 kilogramme per hour, the companies said in a joint press release on the sidelines of the Singapore International Bunkering Conference and Exhibition (SIBCON) 2022.It is being carried out by the Global Centre for Maritime Decarbonisation (GCMD) in Singapore, the Oil and Gas Climate Initiative (OGCI)…

05 Jul 2022

Guangzhou Shipyard Delivers Pair of Innovative Newbuild Ships

The 57,000 dwt Greenway, an LNG dual fuel Suezmax tanker built by GSI shipyard in China for Singapore headquartered shipowner Eastern Pacific Shipping Pte. Ltd. (Photo: Guangzhou Shipyard International)

Guangzhou Shipyard delivered a pair of innovative ships recently: the 274m, 157,300 dwt Greenway reported to be the world’s first LNG dual fuel Suezmax tanker built for Singapore headquartered shipowner Eastern Pacific Shipping Pte. Ltd.; and the 49,990 dwt tanker Stena Pro Marine, the second methanol-fueled ship ever built in China.The Stena Pro Marine was handed over to Proman Stena Bulk, a joint venture between Sweden’s Stena Bulk AB and Switzerland-headquartered Proman, with…

20 Jun 2022

Shipbuilding: Methanol-powered Bulk Carrier for Proman Stena Bulk

Stena Pro Patria undergoing sea trials. Image courtesy Stena Bulk

Proman Stena Bulk, a joint venture (JV) between methanol producer Proman and Stena Bulk, confirmed that the first methanol-powered newbuild vessel under its partnership has been delivered and is preparing for commercial operation.Stena Pro Patria is named in honor of Dennis Patrick, an integral member of the Proman family and the former CEO of Proman’s subsidiary Methanol Holdings (Trinidad) Limited (MHTL), who passed away in 2019.The 49,990 DWT Stena Pro Patria is the first of six state-of-the-art, IMOIIMeMAX dual-fuel mid-range (MR) tankers being built at Guangzhou Shipyard International Co.

27 Apr 2022

First China-built Dual-fuel Methanol Powered Tanker Starts Sea Trials

Credit: Guangzhou Shipyard International

Guangzhou Shipyard International  (GSI) has started sea trials of the Stena Pro Patria, the first methanol-powered dual-fuel tanker constructed in China in what has been described as a 'watershed moment' in the development of methanol as an alternative fuel for medium-range tankers.GSI signed the deal to build three 49,990 dual-fuel DWT tankers with Proman Stena Bulk, a joint venture between Sweden-based Stena Bulk AB and Switzerland headquartered Proman in 2019. Stena Pro Marine and Stena Prosperous…

13 Dec 2021

Cost a Major Hurdle for Onboard Carbon Capture

(Photo: Stena Bulk)

Cost hurdles likely to slow the deployment of stationary carbon capture and storage (CCS) technologies on board ships in the near and medium term could be diminished as technology advances, clearing CCS could be a persuasive option for the industry’s decarbonization trajectory, a recent study found.Tanker shipping company Stena Bulk announced the results of its partnership with the Oil and Gas Climate Initiative (OGCI) to study and explore the potential of capturing carbon at…

15 Nov 2021

Industry Veteran Ullman to Retire; Lewenhaupt tapped for CEO spot at Concordia Maritime

Kim Ullman, CEO of Concordia Maritime. Photo courtesy Concordia Maritime

Erik Lewenhaupt will take over as CEO of Concordia Maritime on January 1, 2022, succeeding Kim Ullman, who informed the Board his wish to step down as CEO and retire.Lewenhaupt has a long track record in tanker shipping. He started his tanker career at Nordström & Thulin in 1996, and was later recruited to Stena Bulk, where he was tanker chartering manager in both Gothenburg and Singapore. His most recent position has been Head of Sustainability at Stena Line, where he has been…

04 Nov 2021

First Methanol Dual-fuel Tanker Launched for Proman Stena Bulk

(Photo: Stena Bulk)

The first in a series of three new 49,900 dwt methanol dual-fuel MR tankers has been launched for a joint venture between Proman and Stena Bulk.Stena Pro Patria’s launching took place at Guangzhou Shipyard International (GSI), which is the first Chinese shipyard to build a Methanol Dual-Fuel vessel.Construction will now continue on the water, ahead of sea trials and final delivery in the first quarter of 2022.Over the next two years, she will be joined by another five methanol-powered newbuilds: Stena Pro Mare and Stena Prosperous…

21 Oct 2021

Stena Partners with Proman to Develop Methanol Retrofit and Supply Solution

(Image: Stena)

Shipping company Stena is working with methanol producer Proman to develop a retrofit and supply solution that will allow both Stena’s vessels as well as third party vessels to operate on cleaner-burning methanol fuel.The plan builds upon 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, with a further three Proman-owned but mutually…

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