Methanex Expands Global Methanol Bunkering to Key Hubs
New partnerships in Europe and South Korea position the company to meet rising demand for cleaner marine fuels.
Methanex Corporation (NASDAQ: MEOH), the world's largest producer of methanol, is significantly expanding its reach in the marine fuel sector by launching global methanol bunkering operations in two of the world's most critical shipping corridors. The company has established strategic partnerships in the Amsterdam-Rotterdam-Antwerp (ARA) region and South Korea to supply methanol, a cleaner-burning alternative fuel, directly to vessels.
This strategic move aims to support the maritime industry's ongoing transition away from traditional fossil fuels to meet stricter global emissions standards. that can reduce sulfur oxide (SOx) and particulate matter emissions by over 95% and nitrogen oxide (NOx) emissions by up to 80% compared to conventional marine fuels. By establishing a robust supply chain in these hubs, Methanex is addressing the critical 'last-mile' challenge for shipowners converting their fleets.
In Europe's ARA region, a major global bunkering hub, Methanex has partnered with TankMatch to provide barge-to-ship refueling services. In South Korea, the company is collaborating with Alpha Maritime and Hyodong Shipping to facilitate similar last-mile delivery. These initiatives leverage Methanex's extensive global supply network and the operational experience of its subsidiary, Waterfront Shipping, which already operates a fleet of methanol-fueled tankers.
The expansion comes as the market for green shipping is poised for explosive growth. The number of methanol dual-fuel vessels is expected to exceed 350 by 2030, with the green methanol ship market . , viewing it as a prudent long-term investment that aligns with the powerful trend of global decarbonization. TPH has maintained a 'Buy' rating on the company's stock following the news.
By building out this essential infrastructure, , capitalizing on the increasing regulatory and consumer pressure for a greener global shipping industry. This move not only opens a significant new revenue stream but also reinforces the company's central role in the energy transition.