MOL closes $145mn methanol deal

Japanese shipping company Mitsui OSK Lines (MOL) has completed the $145mn deal to acquire a 40% stake in Waterfront Shipping (WFS), a unit of Canadian methanol producer Methanex Corp, the companies said on February 2. The deal was first announced in July last year.

Methanex will retain the remaining 60% majority interest in WFS and continue to operate it as a key element of its global supply chain capabilities.

"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 commercialisation of methanol, including renewable methanol, as a viable marine fuel," the companies said.