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Methanex and Mol Announce Successful Completion of Net-zero Voyage

Methanex and Mol

On February 27, 2023, Methanex, a methanol producer and supplier, and MOL announced the successful completion of a duel-fuel vessel called "Cajun Sun", a net-zero voyage with bio-methanol fuel consumption. Their collaboration shows that methanol as a marine fuel can produce net-zero emissions.

Methanex's subsidiary Waterfront Shipping conducted the Cajun Sun operation, leased from MOL. It departed from Geismar, U.S. and arrived in Antwerp, Belgium. The journey started on 17th January and ended on 4th February. For the 18-day trans-Atlantic voyage, the mixture of the ISCC-certified bio-methanol with negative carbon intensity and natural gas methanol produced net-zero greenhouse gas emissions on a lifecycle basis. This innovative fuel solution would assist shipping companies with net-zero carbon emissions. In addition, it would support the chemical industry's venture toward low-carbon emissions.

MOL's Executive Officer for Bunker Business Division, Kazuhiro Takahashi said, "We're pleased to complete the net-zero voyage by utilizing bio-methanol. This is another example of what we can collectively accomplish in our long-term partnership with Methanex and Waterfront Shipping that was solidified in early 2022 when we purchased a 40 per cent interest in Waterfront Shipping." He added, "MOL, as a pioneering shipping company, is committed to reducing the environmental impact of the shipping sector. The use of methanol, which can be readily adopted today, is one of the very promising alternative fuels. We are also contributing to various stages of supply chain through the development and usage of alternative fuels in the global shipping industry."

(Source – Globe Newswire)

About Methanex

Headquartered in Vancouver, British Columbia, Methanex, a chemical manufacturing company, is a methanol producer and supplier to international markets in Europe, North America, Latin America and Asia Pacific. It is a publicly traded company with shares listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and "MEOH" on the NASDAQ Global Market in the United States. Methanol is a liquid chemical produced primarily from natural gas. It is used as a chemical feedstock in manufacturing products like building materials, foams, resins and plastics. It is also used to produce methyl tertiary-butyl ether and energy applications.

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