Hong Kong-based shipowning and operating company Wah Kwong Maritime Transport and CIMC ENRIC Holdings Limited, a clean energy equipment manufacturing and integrated services company, signed on February 26 a partnership agreement on green methanol bunkering applications, logistics and bunkering services in the Greater Bay Area (GBA) and across Asia, according to Wah Kwong announcement.
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 southeast Asia. It is expected to be onstream in the second half of 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,” stated the company in its release.
Headquartered in Shenzhen and Hong Kong respectively, CIMC ENRIC and Wah Kwong’s collaboration will include a focus on the Greater Bay Area.
