Carbon Sink, Rose Cay Partner for Methanol Fuel Supply

July 20, 2023

(File photo: Rose Cay Maritime)
(File photo: Rose Cay Maritime)

Green methanol manufacturer Carbon Sink is partnering with Jones Act-compliant shipping company Rose Cay Maritime (RCM) to build out an end-to-end low-carbon marine fuel supply chain.

The two companies signed a memorandum of understanding (MOU) outlining a plan for increasing green fuel production, transportation, bunkering and storage specifically tailored for the shipping sector. RCM and its fleet of U.S.-owned, -built and -crewed vessels will help Carbon Sink link to customers as it develops large-scale green methanol production facilities across the U.S.

Carbon Sink CEO Steve Meyer said, “Rose Cay Maritime is the ideal partner to help Carbon Sink deliver our carbon-neutral fuels to our customers. Their industry knowledge and leadership in advancing the maritime energy transition will enable us to better serve the market as we expand our production capacity.”

“Carbon Sink is a leader in the creation of state-of-the-art green methanol plants that will help drive a material shift in the shipping industry's decarbonization initiatives that aligns with Rose Cay’s sustainability goals,” said Alex Parker, CEO of RCM. “Together, we look forward to providing much-needed green methanol production and supply chain solutions to meet growing demand from the ambitious decarbonization goals of the maritime industry.”

To date, more than 220 methanol-capable vessels are operating or under construction, representing an annual demand exceeding 6 million metric tons of green methanol—one of several alternative fuels being explored to help the global shipping industry reduce its emissions.

In November, Carbon Sink signed a letter of intent with global shipping giant A.P. Moller-Maersk to deliver 100,000 tonnes of green methanol annually from its debut plant. The plant is slated to commence production in 2027 and Maersk is expected to purchase the full volume of fuel produced, with options for future Carbon Sink facilities.

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