STENA BULK IN NEW JOINT VENTURE – THIS TIME WITH

PROMAN SHIPPING

Stena Bulk and Swiss Proman Shipping have initiated strategic collaboration. This collaboration involves the formation of a new joint venture in which Proman Shipping initially agrees to long-term charter and become half-owner in two new orders for IMOIIMeMAX MR vessels from GSI, under the company name Proman Stena Bulk Limited. Collaboration also involves investing in methanol as a fuel for reduced environmental impact. The two companies' shared values and ambitions create good conditions for collaboration.

Collaboration with Proman Shipping is in line with Stena Bulk’s goal to be the industry leader and to be at the forefront in terms of innovation and development.

“This is an important step for Stena Bulk,” says Erik Hånell, CEO of Stena Bulk. “We’ve built our success on close and strong partnerships, and we’re looking forward to sharing our continued success with Proman Shipping as a new partner. We have similar values and goals, and together can contribute to the further development of the industry through innovations that create both efficiency and sustainability.”

PROMAN SHIPPINGBased in Wollerau, Switzerland, provides the Proman industrial group with maritime expertise and transports over the world's seas with its twelve chemical tankers. The Proman Group is a world leader in natural gas related products and services, and the world's second largest producer of methanol. www.proman.org

“For us, this is both a joint venture with a world-leading shipping company as well as an investment in the use of a fuel for shipping that is sustainable and yet does not compromise efficiency,” says Anita Gajadhar, CEO of Proman Shipping. “We’re proud to be partners with Stena Bulk who, like us, is investing in innovation. We’re looking forward to working with them in paving the way for methanol as the fuel of the future.”

MAJOR ENVIRONMENTAL GAINS WITH METHANOLBoth the environment and the climate benefit from the replacement of marine diesel with methanol. Methanol is already contributing to significantly improved local environments by reducing emissions of sulphur oxides by 99%, nitrogen oxides by 60% and particles by 95%. For shipping, methanol also has the advantage that existing cisterns and tanks can be used and that it can be transported like any other fuel.
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