Wah Kwong and CIMC ENRIC forge renewable fuel partnership

Hong Kong-based shipowner Wah Kwong has formed a strategic partnership with clean energy equipment and services provider CIMC ENRIC to work on joint renewable fuels projects.

On February 26, 2025, the companies signed an agreement on renewable fuel projects and joint investment opportunities, specifically green methanol bunkering applications, logistics, and bunkering services.

Under the agreement, Wah Kwong will act as an offtaker, responsible for downstream operations, and a logistics partner for part of CIMC ENRIC’s green methanol capacity.

Wah Kwong’s role will include responsibility for market promotion and the delivery of product from shore-tanks to customers, including the procurement of bunkering services. CIMC ENRIC will produce and supply green methanol in compliance with ISCC and EU regulations.

CIMC ENRIC is currently developing the first phase of its 50,000 million tons per annum (mtpa) renewable green methanol plant in Zhanjiang City, Guangdong Province. The plant is strategically located to supply the Greater Bay Area (GBA), Southern China, and South East Asia. It is expected to come onstream in the second half of 2025.

As explained, Wah Kwong and CIMC ENRIC’s collaboration will focus on the GBA as the parties work along with partners in the supply chain to develop a pilot green methanol bunkering operation.

Hing Chao, Executive Chairman of Wah Kwong Maritime Transport, said: “Wah Kwong is delighted to formally enter partnership with our friends at CIMC ENRIC today, and to develop our role as a trusted investor, offtaker and logistics partner for renewable fuels. Wah Kwong is grateful for the opportunity, through Venture Energy, to develop an offtake from CIMC ENRIC and provide downstream services to them as a logistics partner.

“We look forward to a fruitful and long-term partnership in the years to come which includes potential joint investments. As the marine transition gathers pace, it is increasingly important we forge pioneering new partnerships to invest, produce and deliver the products and services our industry needs to decarbonise.”

Leo Yang, Executive Director and President of CIMC ENRIC, commented: “This collaboration marks a significant step for CIMC ENRIC’s green methanol business, transitioning from production layout to achieving full-chain commercialisation. Wah Kwong is a globally integrated maritime services company with industry-leading vessel management and operational expertise, particularly in the field of new energy bunkering.

“We are pleased to have reached a strategic cooperation with Wah Kwong on logistics and bunkering services in Hong Kong and GBA for our green methanol project. I trust that we will cooperate more comprehensively with our partners to participate in the global energy transition and decarbonisation process in the future.”