Macquarie eyes methanol bunker market

Global financial firm Macquarie Group is currently recruiting a physical methanol trader in Singapore to work in its clean energy fuels business team.

PHOTO: Model of Maersk's 17,000 TEU methanol-powered container ship. A.P. Moller-Maersk

The trader will be responsible for building “relationships with physical methanol suppliers and end-users in Asia, with a focus on China petrochemicals and international bunker markets,” the company says in a social media post.

The new recruit will also be responsible for trading both physical and financial methanol as well as other related products, it says.

Methanol has been gaining a lot of attention from the shipping industry as an alternative fuel choice to reduce emissions.

According to classification society DNV, the number of methanol-fuelled vessels in operation is projected to more than double in the next few years. 82 methanol-powered vessels are registered to come into operation by 2028, compared to 24 currently.

By Shilpa Sharma

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