Methanex, Stena Line and Port of Gothenburg Achieve New Methanol Marine Fuel Milestone

Methanex Corporation (TSX:MX) (NASDAQ:MEOH), Stena Line and the Port of Gothenburg are proud to mark a new milestone in advancing methanol as a cleaner burning marine fuel—supporting the shipping industry’s shift towards decarbonization. On January 23, the world’s first methanol ferry, the Stena Germanica, was the first non-tanker to successfully complete ship-to-ship methanol bunkering at the Port of Gothenburg in cooperation with Methanex. This partnership is another demonstration of the leadership role that the parties play in growing the demand for methanol as a marine fuel and their commitment to playing an active role in supporting the industry’s energy transition.

“As the world’s largest producer and supplier of methanol, we’re pleased to continue our collaboration with Stena Line to demonstrate that methanol is a leading alternative, cleaner burning, future-proof marine fuel,” said Karine Delbarre, Senior Vice President, Global Marketing & Logistics, Methanex. “This first ship-to-ship methanol bunkering for a non-tanker, leveraging our partners E&S Tankers and Port of Gothenburg, is further evidence that methanol is globally available, safe to ship, store and handle using procedures similar to those for conventional marine fuels.”

“The Stena Germanica, connecting Gothenburg, Sweden with Kiel, Germany, became the world’s first methanol-powered ferry when Stena Line converted the 240 metre vessel in 2015 in partnership with Methanex, Wärtsilä, the Port of Gothenburg and the Port of Kiel,” said Maria Tornvall, Head of Sustainability at Stena Line. “We welcome ship-to-ship bunkering as a tool to achieve a stable and efficient supply chain for methanol which is critical in Stena Line’s shift to alternative fuels and to retain our position as a leader in sustainable shipping.”

As the largest port in Scandinavia, the Port of Gothenburg's ambition is to become the primary bunkering hub for renewable methanol in Northern Europe.

“This is a door-opening demonstration, proving that there is a feasible way to handle ship-to-ship methanol bunkering. With this, we are strengthening our position as a bunker hub and at the same time showcasing that this can be done in a safe and efficient way. Not only here, but also in other ports around the world,” said Christoffer Lillhage, Senior Business Development Manager, Energy at the Gothenburg Port Authority.

Methanol as an alternative marine fuel has ultra-clean burning properties that meet increasingly stringent air quality emissions regulations in the maritime sector. Compared to conventional marine fuels, methanol reduces emissions of sulphur oxides (SOx) and particulate matter (PM) by more than 95 per cent, nitrogen oxides (NOx) by up to 80 per cent and CO2 from combustion by up to 15 per cent.