MOL, MHTL Sign Deal to Build, Charter 4 Methanol Carriers
February 14, 2014
TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced the signing of a contract with Methanol Holdings (Trinidad) Limited (MHTL; CEO (Ag): Dennis Patrick) to build and charter four methanol carriers.
The new contracts will play an essential part in MOL's strategy to strengthen long-term business, as well as enabling the company to renew its methanol fleet by replacing older vessels with ships featuring the most advanced designs.
Global demand for methanol is expected to grow and MOL will continue expanding its services to meet the needs of a broad range of customers, building on its extensive experience and know-how as a worldwide leader in methanol transport.
Methanol Holdings (Trinidad) Limited (MHTL) is a leading global producer of Methanol, UAN (32% N), Melamine and Ammonia. With 4.1 million MTPY of methanol capacity in Trinidad and an indirect 60% shareholding interest in the Oman Methanol Company (1.0 million MTPY), MHTL and its affiliated marketing centers Southern Chemical Corporation in the Americas and Helm AG in Europe and Asia market approximately 5.1 million MTPY of methanol globally.