Asia/Pacific News
CIMC Enric Partners with Wah Kwong for Green Methanol Bunker Supply
Hong Kong-based shipping company Wah Kwong Maritime Transport has reached an agreement with Chinese clean energy firm CIMC Enric to offtake green methanol from CIMC Enric's upcoming plant for bunkering.
CIMC Enric is currently constructing a green methanol plant in Zhanjiang City, with the first phase of 50,000 mt/year production set to launch in the second half of this year, Wah Kwong said in a statement on its website on Monday.
Under the agreement, Wah Kwong will act as the offtaker and logistical partner for the green methanol produced at the plant, ensuring supply to customers, including for bunkering.
“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,” it said.
The duo will also explore potential investment opportunities and establish a supply chain for pilot green methanol bunkering in the Greater Bay Area.
As the global fleet increasingly adopts dual-fuel methanol ships, demand for methanol bunkering is set to surge. Green methanol, in particular, is poised to take the lead, offering a cleaner alternative to grey methanol as vessels seek cleaner solutions in response to tightening regulations.
“Wah Kwong is delighted to formally enter a partnership with our friends at CIMC ENRIC today, and to develop our role as a trusted investor, offtaker and logistics partner for renewable fuels,” Hing Chao, executive chairman of Wah Kwong Maritime Transport, said.
Companies like AP Moller Maersk have already secured offtake agreements with methanol suppliers, including CIMC Enric, to meet the bunkering needs of their vessels.
