Asia/Pacific News
Mitsubishi Firm Signs Green Methanol Offtake Deal with India's ACME
Japan’s Mitsubishi Gas Chemical Company (MGC) has signed a long-term green methanol offtake agreement with India's ACME Group.
MGC will purchase 100,000 mt/year of green methanol from ACME's planned production facility in Odisha, India, the firm said in a statement on its website on Monday.
Supplies are due to begin when the project enters commercial operation in 2030.
The green methanol could be used as a marine fuel and chemical feedstock across Japan and Asia.
“The green methanol that MGC will offtake under this contract will have the ultra-low carbon intensity compliant with EU regulations and future IMO regulations, alongside an attractive price to the green market,” Hideaki Akase, Managing Executive Officer, Green Energy & Chemicals Business Sector for MGC, said.
Methanol is seen as one of the more practical alternative fuels because it can be handled using relatively familiar infrastructure compared with some other emerging marine fuels.
The container segment has led orders for methanol-fuelled newbuilds.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 963.00 | 26.00 | 1351.50 | 10.50 |
| Rotterdam | 766.00 | 3.00 | 1446.00 | 11.50 |
| Houston | 817.00 | 11.50 | 1421.00 | 1.00 |
| Fujairah | 981.00 | 12.00 | 1768.50 | 17.50 |
| APAC Average | 1029.50 | 32.00 | 1478.50 | 13.50 |
| Global 20 Ports Average | 929.50 | 10.50 | 1565.00 | 13.00 |
| Global 4 Ports Average | 882.00 | 13.50 | 1496.50 | 9.50 |
| Global Average Bunker Price | 978.50 | 20.00 | 1616.50 | 18.50 |
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