Following a prior announcement made in mid-July 2021, Methanex Corporation (and Mitsui O.S.K. Lines 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 (Note 3). 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 (Note 4), as a viable marine fuel.