Methanex AND MITSUI O.S.K. LINES finalize definitive agreements for a strategic shipping partnership Vancouver, British Columbia, as per a news source published in the MOL website.
A strategic partnership
Following a prior announcement made in mid-July 2021, Methanex Corporation (TSX:MX) (NASDAQ:MEOH) (Methanex) and Mitsui O.S.K. Lines, Ltd. (TSE:9104) (MOL) have concluded definitive agreements for Methanex and MOL to establish a strategic partnership involving Methanex’s Waterfront Shipping (WFS) subsidiary.
The definitive agreements are consistent with the previously announced Key Commercial Terms (Note 1), with MOL acquiring a 40 percent minority interest for US$145 million (Note 2). The closing is subject to all customary conditions being met, including regulatory approval.
Methane is safe
Methanol is a safe, proven, cost-competitive marine fuel for the commercial shipping industry that can meet current and future emissions regulations (Note 3).
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 4), as a viable marine fuel.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Platts
