MOL buys stake in methanol freight firm to boost the alternative fuel

Japanese shipping group MOL wants to accelerate the development of methanol as a marine fuel by buying 40 percent of Waterfront Shipping, a methanol shipping firm.

Photo: MOL Mitsui OSK Lines PR

Mitsui OSK Lines (MOL) takes a 40 percent stake in Methanex Corporation's Waterfront Shipping (WFS), and this marks the launch of a strategic partnership, the Japanese shipping group says in a statement.

MOL pays USD 145 million for the 40 percent equity position. Methanex will maintain a majority stake in Waterfront Shipping, and the deal is subject to approval by MOL's board of directors.

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