Proman Stena Bulk names its first methanol-powered tanker

Proman Stena Bulk has held a naming ceremony for its new methanol-fuelled tanker in Trinidad and Tobago.

Dubbed Stena Pro Patria, the MOIIMeMAX series ship is the first of the three methanol-fuelled vessels delivered this year to the joint venture (JV) between Stena Bulk and Proman.

The JV took the delivery of Stena Pro Patria in June this year.

It is also anticipated to receive further three new builds between this year and 2024.

The IMOIIMeMax vessel series features design improvements and technologies to enhance energy efficiency and prove the operational viability of methanol as a marine fuel.

Around 2,500tpa of methanol will be used as fuel by the Stena Pro Patria vessel.

This fuel will help significantly decrease the volume of greenhouse gas emissions emitted due to the vessel’s commercial operations compared to conventional marine fuels.

JERA partners NYK and MOL on ammonia transportation study

Japanese energy firm JERA has reached memoranda of understanding with Nippon Yūsen Kabushiki Kaisha (NYK) Line and Mitsui OSK Lines (MOL) to carry out a study on the transportation of fuel ammonia.

Under the study, the entities will assess the transport of fuel ammonia to the Hekinan Thermal Power Plant, where JERA intends to use ammonia in commercial operations from the 2020s.

They will focus on the development of fuel ammonia carriers that can be used for domestic thermal power plants and receiving terminals.

Furthermore, the firms will work together to create a system for transporting and receiving fuel ammonia.

Other areas include the implementation and operation of ammonia-fuelled propulsion systems for vessels, as well as working with related parties to frame rules for the reception of fuel ammonia.

Stonepeak and Spirit Super to acquire GeelongPort, Australia

A consortium of investment firm Stonepeak and industry super fund Spirit Super has signed a definitive agreement to buy 100% of Geelongport, the second largest port of Victoria, Australia.

GeelongPort is located around 75km south-west of Melbourne and within Geelong, the largest regional city of Victoria.

According to the terms of the deal, Stonepeak will hold a 70% interest in the port on behalf of its managed funds and accounts, while Spirit Super will own a 30% stake.

A diversified port, GeelongPort has been considered a major driver of Victoria’s economy for more than 150 years, handling upwards of A$7bn of trade and supporting over 1,800 jobs across the state.

Besides having access to logistics routes for trade through road, rail and air, GeelongPort has channel connections to Geelong and south-west Victoria’s supply chains.

Stonepeak and Spirit Super’s long-term investment will support GeelongPort in its continued efforts to expand relationships with important business partners.

The port consists of 15 berths over two primary precincts, Corio Quay and Lascelles Wharf. It offers land, infrastructure and services to facilitate trade for businesses in Victoria.

Maersk forms green methanol alliance with Carbon Sink

Danish shipping company Maersk has reached a strategic collaboration with US-based project developer Carbon Sink to speed up the production of green marine fuels.

Under the agreement, Carbon Sink will build green methanol production facilities in the US.

With an annual production capacity of around 100,000 tons, the first plant will be co-located with an existing Red River Energy bioethanol facility in Rosholt, South Dakota, US.

This South Dakota facility is expected to begin commercial operations in 2027.

Maersk plans to buy the facility’s entire volume, while also having options for the output from subsequent Carbon Sink plants at other sites.  

Carbon Sink will produce green methanol using commercially available technology. It will combine green hydrogen from the electrolysis of water using additional renewable electricity and biogenic CO₂.

Adani Ports and Gadot to buy Haifa Port in Israel

India-based Adani Ports and Special Economic Zone (APSEZ) and Gadot Chemical Terminals have formed a new joint venture (JV) company in Israel.

The new JV, dubbed Mediterranean International Ports, has been established for the acquisition of Haifa Port Company.

In July, APSEZ and Gadot won a bid to take over the Port of Haifa with a concession period of up to 2054.

Following an offer of around $1.18bn, the partnership secured the rights to acquire 100% equity in HPC.

Adani will own a 70% stake in the port, while the remaining 30% interest will be held by Gadot.

Located in the north of Israel, Haifa Port is about 90km away from the city of Tel Aviv.

The port currently has two container terminals, as well as two multi-cargo terminals.