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Be the first with the news that moves the market- Methanex (MX) had a hand in the first-ever net-zero voyage fuelled by bio-methanol
- The dual-fuel vessel “Cajun Sun” successfully completed its run thanks to Methanex and its partnership with Mitsui O.S.K. Lines Ltd.
- By blending ISCC-certified bio-methanol that has negative carbon intensity with natural gas-based methanol, net-zero greenhouse gas emissions on a lifecycle basis were achieved for the 18-day trans-Atlantic voyage
- Methanex Corporation (MX) was up 3.44 per cent, trading at $66.82 per share as of 9:30 am ET
Methanex (MX) played a role in the first-ever net-zero voyage fuelled by bio-methanol.
The dual-fuel vessel “Cajun Sun” successfully completed its run thanks to Methanex and its partnership with Mitsui O.S.K. Lines Ltd. (MOL).
The Cajun Sun was operated by Methanex’s subsidiary, Waterfront Shipping and chartered from MOL. It departed from Geismar, U.S., in January and arrived in Antwerp, Belgium, on February 4. By blending ISCC-certified bio-methanol that has negative carbon intensity with natural gas-based methanol, net-zero greenhouse gas emissions on a lifecycle basis were achieved for the 18-day trans-Atlantic voyage.
Waterfront Shipping pioneered methanol as an alternative marine fuel in 2016 when Methanex and MOL built the world’s first ocean-going methanol dual-fuel tanker, “Taranaki Sun.”
Methanex’s Senior Vice President, Low Carbon Solutions, Mark Allard, stated that the team was out to bring a tangible solution to transition towards net-zero emissions in the marine industry through this blended methanol product, using bio-methanol produced from renewable natural gas at the Geismar facility.
“As the world’s largest methanol producer, we are establishing a network of relationships with leading renewable natural gas suppliers and assessing other pathways, including carbon capture and storage and e-methanol, to provide solutions for the marine industry and other customers.”
MOL is headquartered in Tokyo, Japan and operates 800 vessels transporting resources, energy, raw materials, and finished products. Involved in shipping methanol since 1983, MOL owned the first methanol-fuelled ship in 2016 and acquired a 40 per cent stake in Waterfront Shipping in 2022.
Methanex is the world’s largest producer and supplier of methanol to major international markets in Asia Pacific, North America, Europe, and South America.
Methanex Corporation (MX) was up 3.44 per cent, trading at $66.82 per share as of 9:30 am ET.
