Wah Kwong launches clean fuels trading subsidiary

Well-known Hong Kong shipowner Wah Kwong Maritime Transport has unveiled at this year’s Nor-Shipping show Venture Energy, a subsidiary focusing on the procurement and trading of clean fuels.

Venture Energy aims to connect producers of clean fuels in China to end users around the world, developing plant projects and procuring product both for downstream customers and for the potential future requirements of Wah Kwong and other shipowners.

From late 2026, Venture Energy expects to offer methanol supply from a portfolio of plants with nearly 500,000 tonnes per annum of supply fixed.

The commercial development of Venture Energy and its operations will be driven by general manager Deepak Devendrappa, who has joined the Hing Chao-led company from methanol giant Methanex Corporation.

Devendrappa commented: “China can contribute significantly in terms of lowering green fuel costs for shipping companies and we are committed to working with esteemed companies along this green fuels value chain.”

The name of the subsidiary is a nod to Wah Kwong’s heritage, with many of the company’s vessels featuring the name Venture.

In March this year, Wah Kwong teamed up with Chinese clean energy producer CIMC ENRIC to offer green methanol bunkering solutions in southern China’s Greater Bay Area and across Asia. 

Many of China’s leading shipping companies have invested heavily in developing a green methanol industrial chain in recent years, with the country’s maritime sector better placed than most to switch to this alternative fuel.