Cargill Ocean Transportation becomes newest member to join Methanol Institute
- Published
by Admin
The Methanol Institute (MI) on Monday (6 November) welcomed Cargill Ocean Transportation as its newest member.
Cargill Ocean Transportation is a freight-trading organization that charters around 650 vessels worldwide at any one time.
MI said Cargill Ocean Transportation is one of the maritime industry’s leading proponents of, and investors in, efforts to achieve ambitious decarbonisation goals.
“Cargill Ocean Transportation believes shipping will need to move to zero-carbon fuels to meet its decarbonisation goals and methanol offers one such pathway. It is one of the most technologically ready of the zero-carbon options and Cargill Ocean Transportation are moving forward with investments to propel the industry forward,” it said in a statement.
In January 2023, Cargill Ocean Transportation announced orders for its first two methanol dual fuel kamsarmax bulk carriers with Mitsui & Co. Ltd., set for delivery in 2025-26. Two more methanol dual fuel kamsarmax bulk carriers were announced in April 2023 and a fifth in June 2023, all three with Denmark’s J Lauritzen. The five new vessels will be the world’s first methanol-fueled bulkers to enter commercial service and will help Cargill and its customers achieve their Scope 3 climate goals.
MI CEO Greg Dolan, said: “As demonstrated by their methanol dual-fuel vessel orders, Cargill is a first mover in the freight-trading segment. As Cargill tacks to methanol, MI looks forward to working with the shipping leader on their low carbon journey.”
Rakhi Rastogi, Shipping and Energy Analytics Lead for Cargill’s ocean transportation business, said: “Cargill is committed to making zero carbon shipping a reality and creating relevant decarb solutions for its customers.”
“This commitment is reflected in our membership of the Methanol Institute, and through our engagement with MI, we aim to stay at the forefront of methanol developments, leverage the expertise of the MI’s partner members, and lend our expertise to relevant MI committees.”
Photo credit: Methanol Institute
Published: 8 November, 2023
