Mitsubishi Gas Chemical Company, Inc. (MGC), headquartered in Chiyoda-ku, Tokyo, and Kokuka Sangyo Co., Ltd., based in Minato-ku, Tokyo, have entered into a basic agreement for a long-term charter contract involving a coastal methanol-transport vessel with an approximate gross tonnage of 499 tons.
Concurrently, on February 5, Kokuka Sangyo formalized a shipbuilding contract with a shipyard.
This initiative is supported by Japan’s Ministry of the Environment and the Ministry of Land, Infrastructure, Transport and Tourism (MLIT) under the 2024 Project to Promote Decarbonization in the Maritime Sector.
The vessel is slated for completion in 2026 and is expected to contribute significantly to the practical application of methanol as a marine fuel in Japan's coastal shipping industry.
The newly constructed vessel will utilize methanol supplied by MGC for domestic transportation and will also function as a bunkering vessel, supplying methanol fuel to other ships within Japan. This aligns with MGC's strategy to expand the use of environmentally friendly methanol and supports MLIT's target of reducing CO₂ emissions from coastal shipping by approximately 3.87 million tons (36% from fiscal 2013 levels) by 2040.
Mitsubishi Gas Chemical Company, Inc. (MGC) is a Tokyo-based chemical company engaged in the production and sale of a wide range of chemical products, including natural gas chemicals, aromatic chemicals, specialty chemicals, and advanced materials.
Established in 1947, Kokuka Sangyo is a Japanese shipping company specializing in the marine transport of chemicals and other materials.