Sustainable Fund Launched for Methanol Fleet
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…
Proman Stena Bulk Names Methanol-fueled Tanker
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)…
Proman Stena Bulk Names Its First Methanol-fueld Tanker in Trinidad & Tobago
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.
Stena Partners with Proman to Develop Methanol Retrofit and Supply Solution
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…
MOL, Proman Shipping Name Methanol Carrier CASTARA
Switzerland's Proman Shipping and Mitsui O.S.K. Lines(MOL) announced that a naming ceremony for a newbuilding Methanol Carrier for Proman Shipping was held at the Hyundai Mipo Drydock (HMD) in Korea.The vessel was named the CASTARA by Methanol Holdings (Trinidad) Limited. (MHTL) CEO Dennis Patrick. MHTL and Proman Shipping are subsidiaries of the Proman Group.The CASTARA will be the most eco-friendly and fuel-efficient vessel in Proman Shipping’s expanding fleet.David Cassidy, Chief Executive of Proman Group said, “The CASTARA is Proman Shipping’s first 50,000 DWT vessel and will become the largest vessel in the Proman Shipping fleet. This milestone is testament to our valued and long-term partnership with MOL.
Cassidy Takes Over Head Post At BMI
Baltimore Marine Industries has elected David Cassidy as president and CEO. Cassidy, who succeeds David Watson, who retired, had previously served as president of BethShip, the predecessor to BMI, for 15 years until its sale in 1997. Cassidy holds a B.S. in mechanical engineering and an M.S. degree in fluid mechanics from the University of Newcastle Upon Tyne in England, and has extensive experience in management and executive positions at shipyards in England, Canada and the U.S.
