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.

Signature on Share Purchase Agreement by Methanex CEO John Floren (Top) and MOL CEO Takeshi Hashimoto (Bottom)
Signature on Share Purchase Agreement by Methanex CEO John Floren (Top) and MOL CEO Takeshi Hashimoto (Bottom)