Bunker Holding Expects First Methanol From SyntexNRG Deal in 2026-7

by Ship & Bunker News Team
Friday May 10, 2024

Marine fuels group Bunker Holding expects production from its new green methanol deal with SyntexNRG to come online between two and three years from now.

The firm announced earlier this month that it had signed an agreement with renewable fuels company SyntexNRG Inc to develop and produce renewable methanol at the ports where Bunker Holding has physical supply operations around the world.

"The projected production date is late 2026 to early 2027," Carlos Gilberto Torres Padilla, global head of methanol and strategic relationships at Bunker Holding, told Ship & Bunker.

"The methanol being produce by SyntexNRG will be bio/green methanol."

The company told Ship & Bunker about its intentions to join the methanol bunker market in November, having participated in two tenders launched by shipping companies seeking green methanol deals.

Methanol is rapidly gaining in popularity as an alternative marine fuel, with orders of methanol-fuelled tonnage now coming in regularly from a variety of shipping segments. The main challenge for this market will be the scaling-up of green methanol supply in time to meet the needs of the new ships as they are delivered.