Hong Kong S.A.R., 3 March 2025 – Wah Kwong Maritime Transport (“Wah Kwong”), an integrated shipowning and operating company, and CIMC ENRIC Holdings Limited (CIMC ENRIC, 3899.HK), a global leader in clean energy equipment manufacturing and integrated services, signed a strategic partnership agreement (“the Agreement”) on green methanol bunkering applications, logistics and bunkering services on 26 February 2025.
The partnership is the first cooperation of the kind for the green fuel sector, tying a leading plant developer to a logistics and downstream service provider. The Agreement is a statement of confidence in CIMC ENRIC’s green methanol production capabilities in the renewable fuel sector, and Wah Kwong’s capabilities as an investor, offtaker and logistics partner for renewable fuel.
Under the Agreement, Wah Kwong and CIMC ENRIC will develop a strategic partnership for renewable fuel projects and jointly consider potential investment opportunities. Wah Kwong will also be 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 MTPA renewable green methanol plant in Zhanjiang City, Guangdong Province. The plant is strategically located to supply the GBA, Southern China, and South East Asia. It is expected to be onstream in the second half of 2025.
As green methanol renewable fuel projects approach completion, solving downstream logistics and delivery challenges related to bringing a new fuel to customers in both a cost and carbon-efficient way becomes increasingly important. Wah Kwong and CIMC ENRIC’s landmark collaboration is a first step to developing these capabilities.
Headquartered in Shenzhen and Hong Kong respectively, CIMC ENRIC and Wah Kwong’s collaboration will include a focus on the Greater Bay Area (“GBA”). The parties will work together along with valued partners in the supply chain to develop a pilot green methanol bunkering operation in the GBA as a core area of promotion collaboration, building on CIMC ENRIC’s supply of renewable fuels, and Wah Kwong’s expertise in moving and delivering it safely to customers.
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, said:
“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.”
About Wah Kwong Maritime Transport Limited
Wah Kwong Maritime Transport Holdings Limited is a family-owned private shipping company based in Hong Kong with a global outlook, operating from offices in Shenzhen, London and Genoa. Established in 1952 by T.Y. Chao and currently managed by the third generation of the Chao family, Wah Kwong owns and operates a diversified fleet of ships in addition to offering a full range of in-house services in new building supervision, technical and commercial management to our customers and partners in China, Asia and Europe.
Wah Kwong is a leader in marine decarbonisation for ship management and consultancy services, offering best-in-class technical services. Wah Kwong is also a first mover in developing technologies and demonstrating feasibility of these technologies through studies and demonstration on the fleet. Wah Kwong Ship Management manages China’s first methanol bunkering vessel, delivering the first green methanol bunkering with simultaneous cargo and bunkering operations in 2024.
Through its alternative investment division, trading as Venture Energy, Wah Kwong continues to grow and meet its decarbonisation ambitions. Together with our partners, the Company is actively pursuing investment in upstream renewable fuel production capacity, as well as offering development, offtake, sales, marketing, and logistics services to plant developers.
About CIMC ENRIC Holdings Limited
Founded in 2004, CIMC Enric Holdings Limited has been listed on the Stock Exchange of Hong Kong since 2005. The Company is affiliated with China International Marine Vessel (Group) Ltd. (“CIMC”) and is principally engaged in the transportation, storage and processing equipment that is widely used for the clean energy, chemical environmental, and liquid food industries. CIMC Enric has been a leading integrated clean energy service provider and key equipment manufacturer in the industry. The Company is among the world’s top players in high-pressure gas storage and transport vehicles. It is among China’s top players in the market of cryogenic transport vehicles and cryogenic storage tanks and one of the top three in terms of domestic market shares for large storage tanks for LNG receiving stations and modular products for LNG refuelling stations. CIMC Enric has built a global marketing network and owns over 20 subsidiaries located in China, the Netherlands, Germany, Belgium, the United Kingdom and Canada that operate production bases and internationally advanced R&D centres. For more information, please visit https://en.enricgroup.com.
