Mitsubishi Gas Chemical Company, Inc. (MGC) and Kokuka Sangyo Co., Ltd. have signed a long-term charter agreement for a coastal methanol-transport vessel with approximately 499 tons gross tonnage, scheduled for completion in 2026. Kokuka Sangyo signed the shipbuilding contract on February 5, supported by Japan’s 2024 Project to Promote Decarbonization in the Maritime Sector.
The initiative, led by Japan’s Ministry of the Environment and MLIT, aims to cut coastal shipping CO2 emissions by 36% from 2013 levels by 2040. Methanol, favored for its clean-burning properties, reduces SOx emissions by up to 99%, PM by 95%, and NOx by 80%.
MGC plans to use the vessel for domestic methanol transport and as a bunkering vessel, leveraging its extensive methanol supply chain to promote low-emission fuel. Through its Carbopath initiative, MGC aims to convert CO2, plastic waste, and biomass into methanol, supporting Japan’s circular economy and carbon reduction goals.
