World News
Proman Stena Bulk Hails Growing Momentum for Methanol Bunkers
Proman Stena Bulk has hailed what is see as the growing momentum of methanol-powered vessels across the shipping industry.
An uptick in recent backing for the emerging marine fuel "highlights methanol's key advantage as a globally available cleaner marine fuel: its proven net-zero pathway allows shipowners to invest in vessels that are already futureproofed," the firm says.
The comments came alongside the delivery of its second methanol-powered newbuild tanker, Stena Pro Marine.
It follows the delivery of Stena Pro Patria in June.
Both 49,990 DWT IMOIIMeMAX dual-fuel mid-range (MR) tankers were built at Guangzhou Shipyard International Co Ltd (GSI) in China and are expected to consume 12,500 tonnes of methanol per annum.
"We truly believe that these vessels are not only a step forward for MR tanker design but are also a clear statement of intent to the market," said Erik Hånell, President and CEO of Stena Bulk.
"They showcase our confidence in methanol as an important and viable solution for the future of sustainable shipping."
While the use of methanol as marine fuel is nothing new - Stena Line's Stena Germanica, for example, began burning methanol bunkers in 2015 - its use within the industry is nevertheless extremely rare.
However, interest in the alternative marine fuel has risen considerably as the industry looks for commercially viable ways to decarbonize its operations.
Last year Maersk made a significant order of methanol-fuelled tonnage, and in recent weeks orders for methanol-fuelled tonnage have been placed by CMA CGM and MPC Container Ships, along with orders of methanol-ready vessels by Ocean Network Express (ONE) and Danaos Corporation.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 645.00 | 2.00 | 767.50 | 11.50 |
| Rotterdam | 600.00 | 8.00 | 751.50 | 13.00 |
| Houston | 627.50 | 9.00 | 796.00 | 11.50 |
| Fujairah | 649.50 | 0.00 | 889.00 | 0.50 |
| Global 20 Ports Average | 665.00 | 0.50 | 864.00 | 6.50 |
| Global 4 Ports Average | 630.50 | 5.00 | 801.00 | 9.00 |
| Global Average Bunker Price | 722.50 | 2.50 | 922.50 | 3.00 |
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Apr 19The firm has chartered the 7,994 DWT barge Margherita to add to the operation, operated by Fratelli Cosulich. -
Apr 18Singapore's authorities are in the process of developing a regulatory framework for a methanol bunkering licence, and plan to call for applications for the licence by the end of this year. -
Apr 19The company is looking for candidates with proven experience in bunker trading and demonstrated leadership experience.