Proman and Stena Jointly Develop Methanol as the Pathway to Sustainable Shipping

The global shipping industry is responsible for ~2.9% of global greenhouse gas emissions, which equals almost 1 billion metric tons of CO2 each year. Unchecked, emissions could increase by as much as 130% from 2008 levels by 2050.

Transitioning to low-carbon fuels will be essential to secure the long-term future of the industry and meet International Maritime Organisation (IMO) emissions reduction targets for 2030 and 2050, but still-developing technologies and the long lifetime of existing vessels makes this challenge even bigger.

Currently there are more than 70 000 vessels trafficking our oceans, with an average lifespan of approximately 25-30 years. Finding a low emission fuel for these vessels is no easy task, but now is the time to accelerate the transition. Methanol offers not only immediate, and urgently required, benefits but the only clear pathway to a sustainable future.

Proman, one of the world's largest producers of methanol, has together with Stena, a privately owned shipping company operating approximately 140 vessels, decided to take on this challenge.

Proman and Stena are committed to jointly developing a Retrofit & Supply solution, enabling both Stena's vessels as well as third party vessels to experience the immediate environmental benefits and greenhouse gas emission reductions delivered by methanol.

By switching to this clean-burning fuel, methanol-powered vessels can lead the transition to a lower carbon future and significantly reduce the greenhouse gas emissions generated by conventional oil-based fuels bringing an immediate improvement in air quality around ports and shipping lanes.

Per Westling, CEO Stena RoRo: "We believe that methanol is a clear frontrunner in shipping's search for fuels beyond the fossil default and we are proud to be playing our part to help build the market for alternative fuels within shipping. We converted Stena Germanica to methanol power already in 2015 with another current partner, and that gives us valuable experience both from a conversion and operational perspective."

Carl-Johan Hagman, CEO Stena Rederi: "This announcement builds on the exciting and fruitful partnership that Stena Bulk has already forged with Proman and gives Stena another avenue to explore the use of methanol on more ship types."

David Cassidy, Chief Executive of Proman, said: "Methanol is the only available alternative marine fuel that offers immediate emissions reductions, dramatically improving air quality and delivering a clear shipping decarbonisation pathway for 2050 and beyond. Unlike other alternative marine fuels, methanol utilises existing technology and is safe and widely available."