Proman Stena Bulk, the joint venture between Stena Bulk and methanol producer Proman, is staying away from the shipbuilding market for the time being.

Erik Hanell, chief executive of Stena Bulk, said the current shipbuilding market makes it a challenge to order new vessels.

He added that the newbuilding prices quoted by shipyards today are comparable to those of 2007 when the shipbuilding sector was booming.