Naming ceremony marks start of 10 year methanol storage contract

Koninklijke Vopak N.V. (Royal Vopak) and Methanex Corporation welcome the world’s largest chemical tanker, the “Millennium Explorer”, to the Vopak Terminal Europoort in Rotterdam, where  the naming ceremony will take place on February 18, 2000. Earlier, Vopak and Methanex, the world’s largest producer of methanol, announced a 10-year, EUR 50 million, methanol storage and handling contract in the port of Rotterdam.

Methanex Corporation’s newest vessel, the 100,000 dwt Millennium Explorer, will arrive in Rotterdam around February 13-15, 2000 after completing its maiden voyage. The vessel, owned by Mitsui OSK and operated by a wholly owned subsidiary of Methanex, is expected to reduce Methanex’s annual shipping costs by at least USD 5 million. It will deliver methanol to Rotterdam and Houston from Methanex’s low cost 3 million tonne methanol production hub in Punta Arenas, Chile.

To accommodate this large methanol tanker, Vopak invested EUR 7 million to adjust not only its Europoort terminal and jetties, but also to develop a Rotterdam pipeline grid to transfer methanol to industrial consumers and other Vopak terminals. Imports of methanol into Rotterdam are expected to double from 1 million tonnes in 1999 to more than 2 million tonnes in 2004. Vopak owns and operates over 300,000 cbm of methanol storage capacity in Rotterdam that is interconnected by 20 kilometers of underground pipelines.

Paul Govaart, President of Vopak Chemicals Logistics Europe & Africa, commented, “This extensive interconnected storage system ensures that Vopak’s Europoort terminal is the most cost effective location to import methanol into Europe. It contributes to express our aim to be the link between producer and end-user of chemicals and oil products”.

Peter Schmidt, Managing Director of Methanex Europe, noted, "This new vessel and our storage contract with Vopak will help us to provide a reliable supply to our important European customers while reducing our costs.”

Vopak offers logistics and distribution services to the chemical and oil industries and end-users of chemicals throughout the world. The organization has a global logistics network of terminals, tankers and tank containers and a North American and European distribution
network of warehouses, customers and end-users. Royal Vopak is in a unique position to be the link between producer and end-user of chemicals and oil products.

Methanex, the world’s largest producer and marketer of methanol, is a Vancouver Canada based, publicly traded company. 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'. 

Contacts:

Royal Vopak
Jet van Beusekom-Eikenaar

Blaak 333
3011 GB  Rotterdam,
The Netherlands
Phone: +31 10 464 2616
Fax: + 31 10 464 2316
E-mail: corporate.communication@vopak.com
www.vopak.com 

Brad Boyd
Methanex Corporation

#1800 – 200 Burrard Street
Vancouver, BC  V6C 3M1
Canada
Phone: +1 604 661-2600
Fax:  +1 604 661-2676
E-mail: bboyd@methanex.com
www.methanex.com 

Note for the editor:
INVITATION

Vopak and Methanex would like to invite all press relations for a visit to the Millennium Explorer on February 17, 2000 at the Vopak Terminal Europoort BV, Moezelweg 75, 3198 LS Europoort-Rt (Havennummer 5530).

The program:
09.30  hrs Check-in at the gate of Vopak Terminal Europoort, harbourno. 5530
10.00 hrs Departure in groups to the Millennium Explorer
10.15 hrs Welcome on board by the Master of the Millenium Explorer
10.30 hrs  Several Presentations by Senior Management of Vopak, Methanex and Mitsui
11.30 hrs Guided tour Millennium Explorer
12.00 hrs End of program

Due to local safety regulations at the terminal and on board of the vessel, attendance to this press event is subject to your written reply to fax number: +31 10 4724 913.