Methanex & MOL Announce Closing of Strategic Partnership

Source: www.gulfoilandgas.com 2/2/2022, Location: North America

Methanex Corporation and Mitsui O.S.K. Lines, Ltd. (MOL) announced the completion of the previously announced strategic partnership involving Methanex’s Waterfront Shipping (WFS) subsidiary (NOTE 1). Methanex has received proceeds of approximately US$145 million from MOL for a 40 percent minority interest in WFS. Methanex will retain the remaining 60 percent majority interest in WFS and continue to operate WFS as a key element of its global supply chain capabilities.

Methanol is a safe, proven, cost-competitive marine fuel for the commercial shipping industry that can meet current and future emissions regulations (Note 2). Through this transaction, Methanex as the worldleading methanol producer, WFS as the world’s leading methanol shipper, and MOL as the provider of multimodal shipping services will strengthen a relationship established over 30 years and advance the commercialization of methanol, including renewable methanol (Note 3), as a viable marine fuel.


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