Wah Kwong launches clean fuels procurement and trading subsidiary Venture Energy
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by Admin
Hong Kong shipowner Wah Kwong Maritime Transport (Wah Kwong) on Thursday (5 June) announced the establishment of Venture Energy Limited (Venture Energy), a subsidiary focusing on the procurement and trading of clean fuels.
The subsidiary is positioned in Hong Kong and will leverage the resources of Wah Kwong.
Venture Energy will connect producers of clean fuels in China to end users around the world, developing plant projects and procuring product for downstream customers and for the potential future requirements of Wah Kwong and other shipowners.
Venture Energy’s value offering extends also to supply-chain services, offering an end-to-end solution to producers seeking to supply customers at core bunkering ports across Asia from plants in the Mainland.
From late 2026, Venture Energy expects to offer methanol supply from a portfolio of plants compliant with ISCC EU rules and meeting the Tier 2 surplus Carbon Intensity requirements outlined under MEPC 83. Venture Energy has nearly 500,000 tonnes per annum of supply under MOU.
In March this year, Wah Kwong entered a strategic partnership with CIMC ENRIC on bio-methanol bunkering initiatives. Both agreed to advance green methanol bunkering applications, logistics and bunkering services in the Greater Bay Area (GBA) and across Asia.
The commercial development of Venture Energy and its operations will be driven by General Manager Deepak Devendrappa. Deepak joins the company from his previous role as Global Director of Low
Carbon Markets at Methanex Corporation. During his tenure at Methanex, Deepak was also on the Board of the Methanol Institute. Greg McMillan, previously Investment Director at Wah Kwong Maritime Transport, will lead the Company as Executive Director.
This launch is part of Wah Kwong’s broader strategy to diversify and to advance clean energy solutions development for the global maritime industry, leveraging Wah Kwong’s unparalleled network and Hong Kong’s unique role as the international maritime centre.
Hing Chao, Executive Chairman of Wah Kwong Maritime Transport, said: “As the energy transition gathers pace, it is increasingly important we push new ventures to invest, produce and deliver diversified solutions industry needs to decarbonise.”
“MEPC 83 has sent a clear message to the industry and with this impetus behind the maritime sector, we expect the development of clean fuels market to accelerate. Wah Kwong has long been committed to the sustainable development of the maritime industry and Venture Energy can take a leading role, tapping China’s strategic role in scaling clean fuel supply chain.”
Deepak Devendrappa, General Manager of Venture Energy, said: “Leveraging Wah Kwong’s extensive experience and expertise in shipping, we are expanding to the growing Green fuels segment as an investor, off-taker, and fuels supplier.”
“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. We want to thank our partners for trusting us and making us a part of this maritime decarbonisation.”
Related: Wah Kwong and CIMC ENRIC team up to advance bio-methanol bunkering in Asia
Related: Hing Chao of Wah Kwong joins Global Maritime Forum Board of Directors
Photo credit: Wah Kwong Maritime Transport
Published: 6 June, 2025
