Methanex and MOL complete first-ever net-zero voyage fuelled by bio-methanol
Methanex Corporation (Methanex) and Mitsui O.S.K. Lines, Ltd. (MOL) has announced the dual-fuel vessel "Cajun Sun" successfully completed the first-ever net-zero voyage fuelled by bio-methanol. The voyage is an example of how Methanex and MOL are collaborating to demonstrate the viability of methanol as a marine fuel with a pathway to net-zero emissions.
The Cajun Sun, operated by Methanex's subsidiary Waterfront Shipping and chartered from MOL, departed from Geismar, U.S. on January 17 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. This innovative fuel solution offers shipping companies the ability to achieve net-zero carbon emissions today, supporting the industry's transition to a low-carbon future.
The use of methanol as an alternative marine fuel was pioneered by Waterfront Shipping in 2016 when Methanex, Waterfront Shipping and MOL, in conjunction with other key partners, jointly built the world's first ocean-going methanol dual-fuel tanker, "Taranaki Sun."
Methanex Corporation is the world's largest producer and supplier of methanol to major international markets in Asia Pacific, North America, Europe, and South America. The company's methanol production sites are located in New Zealand, the United States, Trinidad, Chile, Egypt, and Canada. Methanex is headquartered in Vancouver, Canada, and the company's common shares trade on the Toronto Stock Exchange under the symbol MX and on the NASDAQ Global Select Market under the symbol MEOH.
Waterfront Shipping, a subsidiary of Methanex Corporation, is a global marine transportation company specializing in the safe, responsible, and reliable transport of bulk chemicals and clean petroleum products to major international markets in North America, Asia Pacific, Europe, and Latin America. The company operates the world's largest methanol ocean tanker fleet with 19 of its 30 vessels equipped with methanol dual fuel technology, representing approximately 60 per cent of its fleet.
Mitsui O.S.K. Lines, Ltd. (MOL), founded in 1884, is one of the top shipping companies headquartered in Tokyo, Japan. The company operates about 800 vessels transporting resources, energy, raw materials, and finished products. The company has been involved in shipping methanol since 1983, has owned the first methanol-fuelled ship since 2016, and acquired a 40 per cent stake in Waterfront Shipping in 2022.
