| Code: 197532 |

Switzerland-based ship manager Proman Shipping and Swedish tanker shipping company Stena Bulk announced a joint venture, collaborating to co-own two new vessels and promote methanol as a marine fuel.

TINNews |

Switzerland-based ship manager Proman Shipping and Swedish tanker shipping company Stena Bulk announced a joint venture, collaborating to co-own two new vessels and promote methanol as a marine fuel.

The joint venture will see the two companies operating the vessels in a 50-50 ownership of two long term time-chartered ships, under the name ‘Proman Stena Bulk Limited’.

The agreement represents Proman's commitment towards a sustainable shipping through the use of methanol. In addition, for Stena Bulk the agreement demonstrates a commitment to be one of the leaders in the shipping industry by creating unique in-house solutions.

David Cassidy, Chief Executive of Proman, commented

"In just eighteen months since Proman Shipping’s foundation ... We are proud to be one of only three companies actively engaged in promoting Methanol as a marine fuel, through this partnership with Stena Bulk."

Whereas, Erik Hånell, President & CEO of Stena Bulk AB, added

"This is a new important stepstone for Stena Bulk. We are very satisfied to find a partner like Proman, which has many shared values, giving us this opportunity to enter into their future logistical ambitions."

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