Mitsui, a Japanese transportation and logistics company, completed the acquisition of a 40% stake in Waterfront Shipping, a global marine transportation company, from Methanex, a firm that manufactures and sells methanol, for $145m. “We are pleased to expand our relationship with MOL, a world leading shipping company, which will enable Waterfront Shipping to enhance its capabilities by leveraging MOL’s extensive global shipping experience. We have worked with MOL for over 30 years on methanol shipping since the era of Cape Horn Methanol, a predecessor to Methanex’s Chile operations, and we are confident that our new strategic relationship will help develop the market for methanol as a lower emission marine fuel," John Floren, Methanex President & CEO.