Mitsubishi Gas Chemical Company, Inc. and KOKUKA Sangyo Co., Ltd. have signed a basic agreement for a long-term time charter contract and the supply of methanol fuel for a domestic methanol transport vessel. This vessel, with a gross tonnage of approximately 499 tons, will operate primarily on methanol, marking a significant step toward sustainable maritime transportation. On February 5, 2025, KOKUKA Sangyo also finalized a shipbuilding contract with a shipyard, further solidifying the project’s progress.

Recognizing the vessel’s potential to significantly reduce CO2 emissions, Japan’s Ministry of the Environment, in collaboration with the Ministry of Land, Infrastructure, Transport and Tourism, has selected the project under the "2024 Maritime Decarbonization Promotion Project." The ship is scheduled for delivery in 2026, positioning Mitsubishi Gas Chemical and KOKUKA Sangyo at the forefront of methanol-fueled domestic shipping.

As part of Japan’s broader effort to achieve carbon neutrality, the Ministry of Land, Infrastructure, Transport and Tourism has set a target to cut CO2 emissions from domestic shipping by approximately 36% (or 3.87 million tons) by fiscal year 2040 compared to 2013 levels. In response, both the government and industry stakeholders are actively implementing policies and solutions to drive decarbonization in the sector.

Methanol has long been recognized as a clean and viable fuel option due to its liquid state at ambient temperature and pressure, making it easy to store and transport. Additionally, methanol combustion significantly reduces harmful emissions compared to conventional marine fuels—sulfur oxide (SOx) emissions by up to 99%, particulate matter (PM) by up to 95%, and nitrogen oxide (NOx) by up to 80%. Importantly, methanol can be synthesized from CO2, waste plastics, and biomass, making it a sustainable and realistic next-generation marine fuel.

The newly chartered vessel will operate on methanol supplied by MOL (Mitsui O.S.K. Lines) and will serve dual purposes: transporting methanol domestically and acting as a methanol bunkering vessel to support the growing adoption of methanol fuel in Japan’s maritime industry. Leveraging MOL’s extensive methanol supply chain, Mitsubishi Gas Chemical aims to accelerate CO2 reduction in domestic shipping by promoting the use of "Carbopath™," its eco-friendly methanol brand, and strengthening the nation’s methanol fuel supply infrastructure.

Aligned with its corporate mission of "Creating value to be shared with society," Mitsubishi Gas Chemical is committed to advancing "Carbopath™," an environmental recycling initiative that converts CO2, waste plastics, and biomass into methanol for applications in chemicals, fuel, and power generation. Through cross-industry collaboration, the company is working toward a circular economy that redefines traditional industrial structures and fosters sustainable development.