- Perpetual Next plans to produce 660,000 tons of bio methanol annually.
- Global methanol demand is around 100 million tons per year.
- Bio methanol demand is rising, driven by the shipping industry's decarbonization efforts.
- Perpetual Next aims to sign agreements by mid-2025.
Production and Tender
Perpetual Next is issuing a tender for the future sales of 660,000 tons of bio methanol annually. The company has several production facilities in development, each with a capacity of 220,000 tons per year. The tender aims to secure offtake agreements with suitable partners.
Global Demand
Methanol is a key component in the chemical industry, primarily produced from fossil fuels. Global demand is approximately 100 million tons annually. Bio methanol demand is increasing, driven by its use as a decarbonization fuel in the shipping industry. The first bio methanol-powered container ship sailed in July 2023, with over 200 such ships expected by 2028.
Geographical Distribution
Perpetual Next's bio carbon facilities can be integrated into bio methanol production. The company seeks a leading position in the global market, emphasizing good geographical distribution. The tender targets international commodity traders, shipping companies, and chemical industry end users. The first agreements are expected by mid-2025.
Strategic Expansion
Perpetual Next is developing bio methanol facilities in Europe and one outside Europe, aiming for a global presence. The company is focusing on Singapore for strategic expansion, recognizing it as a crucial hub for global shipping. By 2030, Singapore could supply over one million tons of low-carbon methanol annually, meeting the growing demand for alternative bunkering solutions.
