U.K.’s First Commercial Biomethanol Bunkering Service Launches at Port of Immingham
Rhea-AI Summary
Methanex (Nasdaq: MEOH), Exolum and Ørsted launched the U.K.’s first commercial biomethanol bunkering service at the Port of Immingham on Feb 10, 2026. Exolum will provide storage and fuelling infrastructure, Methanex will supply ISCC-certified biomethanol, and Ørsted will be the first customer for offshore wind maintenance vessels.
The ISCC-certified biomethanol is produced at Methanex’s U.S. Gulf Coast facilities from waste feedstocks and can cut greenhouse gas emissions by up to 80% versus conventional marine fuels.
Positive
- Biomethanol offers up to 80% greenhouse gas reduction versus conventional marine fuels
- Launch at Port of Immingham establishes first commercially ready biomethanol bunkering service in the U.K.
- Ørsted to begin immediate use for North Sea offshore wind maintenance vessels
Negative
- International Maritime Organization deferred its vote on the Net Zero Framework, delaying binding global shipping policy
Key Figures
Market Reality Check
Peers on Argus
MEOH gained 1.0% with low volume while chemicals peers were mixed: OLN +0.16%, CE +0.77%, BAK +0.96%, TROX in momentum scanner at +5.35%, and HUN -2.03%. Moves do not indicate a broad sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 29 | Dividend declaration | Positive | +2.5% | Quarterly cash dividend of US$0.185 per share announced for March 2026. |
| Nov 25 | Board appointment | Positive | -0.9% | Experienced former TC Energy CFO added to Methanex board of directors. |
| Nov 18 | Dividend declaration | Positive | -1.0% | Regular quarterly dividend of US$0.185 per share reaffirmed for year-end. |
| Oct 29 | Earnings update | Negative | -1.5% | Q3 2025 results with net loss and lower realized prices despite higher volumes. |
| Oct 21 | Investor Day announcement | Positive | +2.7% | Scheduled Investor Day with business update and live Q&A in Toronto. |
News-driven moves have generally been modest, with both positive and neutral announcements sometimes followed by small declines, suggesting limited but measurable sensitivity to corporate updates.
Over the past several months, Methanex has focused on shareholder returns, governance, and operational performance. Dividend notices on Nov 18, 2025 and Jan 29, 2026 maintained a US$0.185 per share payout, with mixed price reactions. A board appointment on Nov 25, 2025 and an Investor Day announcement on Oct 21, 2025 highlighted strategic and capital markets engagement. Q3 2025 results on Oct 29, 2025 showed higher volumes but a net loss. Today’s biomethanol bunkering news extends the low‑carbon shipping narrative reflected in prior bunkering-related disclosures.
Market Pulse Summary
This announcement highlights Methanex’s role in enabling low‑carbon shipping through biomethanol supply at the Port of Immingham, alongside Exolum and Ørsted. It complements earlier disclosures about bunkering partnerships and underlines regulatory tailwinds, such as U.K. targets of a 30% and 80% emissions reduction by 2030 and 2040. Investors may monitor how quickly biomethanol demand scales, the impact on utilization of existing assets, and how these initiatives relate to future earnings releases and capital allocation.
Key Terms
biomethanol technical
greenhouse gas emissions technical
AI-generated analysis. Not financial advice.
Project supports the green transition of one of the most challenging sectors to decarbonize
LONDON and FREDERICIA, Denmark and VANCOUVER, British Columbia, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Exolum, Methanex Corporation (TSX: MX) (Nasdaq: MEOH) and Ørsted, today announced the launch of the United Kingdom’s (U.K.) first commercially ready biomethanol storage and supply service for shipping at the Port of Immingham. The Port of Immingham is the U.K.’s largest port by cargo volume and a critical gateway for energy and bulk materials, making it an important hub for maritime operations and low‑carbon fuel supply.
The initiative underscores the partners’ commitment to advancing decarbonization in maritime transport - even as the International Maritime Organization (IMO) recently deferred its vote on implementation of its Net Zero Framework, a policy regarded as critical to reducing emissions in shipping. Despite this delay, the companies are prioritizing action to drive progress in one of the world’s hardest-to-abate sectors.
The initiative will provide marine bunkering services for biomethanol, one of the leading green fuels for decarbonizing shipping. Exolum will provide the storage and fuelling infrastructure at its Immingham facility, leveraging its extensive experience and strategic assets. Methanex will supply the biomethanol for the project. Ørsted will be the first to utilize this service for its North Sea offshore wind farm maintenance vessels supporting the U.K.’s clean energy ambitions.
This collaboration demonstrates how existing energy infrastructure can be adapted to support new, sustainable fuels and highlights the partners’ shared commitment to accelerating the maritime sector’s transition to low-carbon operations.
In the U.K., domestic shipping accounts for 4.7 percent of transport-related CO₂ emissions - more than the country’s buses, trains, and domestic aviation combined. This project marks a significant first step toward addressing that challenge and the wider challenge of decarbonizing international shipping emissions.
Quotes
Stephen Land, North-West Europe Chief Executive, Exolum
"This is a groundbreaking project for Exolum as it exemplifies how our energy logistics can help deliver our customers’ green transition. It demonstrates how the strategic location of our infrastructure and our extensive experience in the transport and storage of various products can help transform one of the most difficult sectors of today's economy to decarbonize."
Mika Bärlund, Lead Category Manager at Ørsted
“Ørsted is pleased to be the first to fuel its service-operation vessels with biomethanol as part of this partnership. This project aligns with our commitment not only to create opportunities for local suppliers but also to help develop leading-edge technologies, in particular technologies which help us in our goal to deliver more sustainable operations and assist with the broader decarbonization of the maritime sector. Finally, it is a step towards our vision of creating a world that runs entirely on green energy.”
Stuart McCall, Vice President, Low Carbon Global Market Development, Methanex
“Methanex is proud to supply the biomethanol for this milestone initiative. As the world’s largest producer and supplier of methanol, we are committed to developing and supporting innovative solutions that accelerate the transition to low-carbon shipping.”
Steven Clapperton, Head of Marine (Humber), Associated British Ports, owner of Port of Immingham
“This initiative marks a significant milestone for the Port of Immingham and the wider maritime sector. By enabling biomethanol bunkering, we are taking practical steps toward decarbonizing one of the hardest-to-abate industries. Associated British Ports is proud to support partners like Exolum, Ørsted, and Methanex in driving innovation that aligns with the U.K.’s clean energy ambitions and positions our ports at the forefront of sustainable shipping.”
Notes to editors
- The United Kingdom's commitment to decarbonizing the transport sector is one of the most advanced in the world. Its Department for Transport has published a roadmap to reduce shipping emissions by
30% by 2030 and80% by 2040, with the aim of achieving zero emissions by 2050, a strategy for which Exolum is already working on several hydrogen, SAF and biofuel projects, to which biomethanol is now being added. - The ISCC-certified biomethanol supplied to Ørsted is produced at Methanex’s U.S. facilities on the Gulf Coast using feedstocks derived from waste and residues, such as organic municipal solid waste. Compared to conventional marine fuels, it delivers up to an 80 percent reduction in greenhouse gas emissions.
About Exolum
Exolum is Europe’s leading energy logistics firm, operating in 10 markets around the world. The company owns and operates a U.K. network of 10 fuel, biofuel and chemical storage terminals at major ports around the country, and a 2,000km pipeline network that delivers aviation fuel for more than 40 percent of flights leaving the United Kingdom.
About Methanex Corporation
Methanex is a Vancouver-based, publicly traded company and is the world’s largest producer and supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the Nasdaq Stock Market in the United States under the trading symbol “MEOH”. Methanex can be visited online at www.methanex.com.
About Ørsted
The Ørsted vision is a world that runs entirely on green energy. Ørsted develops, constructs, and operates offshore and onshore wind farms, solar farms, energy storage facilities, and bioenergy plants. Ørsted is recognised on the CDP Climate Change A List as a global leader on climate action and was the first energy company in the world to have its science-based net-zero emissions target validated by the Science Based Targets initiative (SBTi). Headquartered in Denmark, Ørsted employs approx. 8,300 people. Ørsted's shares are listed on Nasdaq Copenhagen (Orsted). In 2024, the group's revenue was DKK 71.0 billion (EUR 9.5 billion). Visit orsted.com or follow us.
Inquiries
Investor Relations
Methanex Corporation
604-661-2600 or Toll Free: 1-800-661-8851
www.methanex.com
FAQ
What did Methanex (MEOH) announce about biomethanol bunkering at Port of Immingham on Feb 10, 2026?
How much can biomethanol supplied by Methanex (MEOH) reduce greenhouse gas emissions for ships?
Who will use the new biomethanol bunkering service at Immingham and why does it matter for Ørsted?
What role does Exolum play in the Immingham biomethanol project announced Feb 10, 2026?
Does the announcement address regulatory progress on maritime decarbonization affecting Methanex (MEOH)?
