Methanex and MOL finalize agreements for strategic shipping partnership

Following a prior announcement made in mid-July 2021, Methanex Corporation *Methanex) and Mitsui O.S.K. Lines, Ltd. (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, with MOL acquiring a 40 percent minority interest for US$145 million.

The closing is subject to all customary conditions being met, including regulatory approval.

Methanol is a safe, proven, cost-competitive marine fuel for the commercial shipping industry that can meet current and future emissions regulations. Through this transaction, Methanex as the world- leading 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, as a viable marine fuel.