World News
Methanex Secures US Approval for OCI Methanol Deal
Canada-based Methanex Corporation has received US regulatory approval to acquire OCI Global's international methanol business, clearing a key hurdle for the deal.
The approval comes as the review period under the US Hart-Scott-Rodino Antitrust Act expired without objection, Methanex said in a statement on its website on Thursday.
With this, all necessary regulatory approvals have now been obtained. The transaction is expected to close on June 27, 2025, pending final closing conditions.
"We are pleased to have received regulatory clearance and look forward to closing the transaction and welcoming new team members to Methanex," Rich Sumner, President and CEO of Methanex, said.
"Given our extensive integration planning, we expect to move quickly upon closing to deliver the strategic benefits of this acquisition."
Last year, OCI announced a deal to sell the methanol business to Methanex for $2.05 billion.
OCI has been one of the main suppliers of AP Moller-Maersk's new methanol-fuelled container ships.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 553.00 | 29.50 | 659.50 | 31.00 |
| Rotterdam | 505.50 | 18.00 | 667.00 | 34.00 |
| Houston | 521.50 | 27.00 | 675.50 | 32.00 |
| Fujairah | 539.50 | 27.50 | 728.00 | 14.50 |
| Global 20 Ports Average | 559.50 | 18.00 | 744.00 | 21.00 |
| Global 4 Ports Average | 530.00 | 25.50 | 682.50 | 28.00 |
| Global Average Bunker Price | 592.00 | 13.50 | 782.50 | 14.50 |
Popular Now More
-
Jun 12Sekavin will handle the bunker volumes of YMN for all vessels at all ports worldwide, a company representative tells Ship & Bunker. -
Jun 13Q1's bunker volumes figures confirm the start of what looks to be a difficult year for shipping, with the rare development of demand being down at almost all major hubs. -
Jun 11The firm is set to launch bunkering services in Gibraltar from mid-June onwards.