Waterfront Shipping enters into time-charter agreement with Trafigura

Waterfront Shipping, a subsidiary of Methanex, the world’s largest producer and supplier of methanol, announced that it has entered into a time-charter agreement with Trafigura, one of the world’s largest physical commodity trading groups. Under the agreement, Trafigura will operate the co-owned Waterfront Shipping and Clean Sea medium-range product tanker, Mari Innovator, as part of its global network of vessels used in clean products trading routes. This agreement supports the parties’ efforts to help transition the marine shipping industry toward decarbonization and is another example of Waterfront Shipping’s leadership in supporting the growing demand for methanol as a marine fuel.

Waterfront Shipping is pioneering the use of methanol as a marine fuel and as the world’s largest operator of methanol dual-fuel vessels, has accumulated over 123,000 operating hours, demonstrating the simplicity and safe use of methanol as a cleaner burning marine fuel. Today, Waterfront Shipping has 18 methanol dual-fuel vessels, with one additional vessel arriving by the spring of 2023, representing approximately 60 per cent of its 30-vessel fleet.

Trafigura’s shipping and chartering operations are managed out of key regional hubs in Athens, Geneva, Houston, Lima, Montevideo and Singapore, providing 24/7 coverage of freight and physical commodity markets.