HONG KONG S.A.R., China, 5 June 2025 – Wah Kwong Maritime Transport Limited (“Wah Kwong”) today announced the establishment of Venture Energy Limited (“Venture Energy”), a subsidiary focusing on the procurement and trading of clean fuels.
Uniquely positioned in Hong Kong, and leveraging 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 both 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 rules and meeting the Tier 2 surplus Carbon Intensity requirements outlined under MEPC 83. Venture Energy has nearly 500,000 MTPA of supply under MOU and continues to develop a competitively priced portfolio.
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 (NASDAQ: MEOH). 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, 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 work 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 marine decarbonisation.”
Greg McMillan, Executive Director of Venture Energy, said:
“We are excited to announce the establishment of Venture Energy, our Group’s independent clean fuel-trading subsidiary. Wah Kwong’s extensive engagement in recent years with upstream producers of marine fuels, certification bodies, local regulators, and downstream users has shown we’re able to bring real value and expertise to this developing segment as an investor, off-taker, and trusted partner of both upstream producers and downstream users of marine fuels. We are grateful for the continued trust of our early partners from the Mainland and further afield, and look forward to working together to deliver competitively-priced clean fuels to where end users need it.”
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, with 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 vessels in addition to offering a full range of ship management services to our customers in China, Asia, Middle East and Europe. Wah Kwong is a leader in maritime decarbonisation and a first mover in developing and demonstrating feasibility of latest technologies.
About Venture Energy Limited
Venture Energy’s vision is to be a leading provider of next generation fuels. We develop plant and infrastructure projects to drive marine decarbonisation across Asia and the world.
Together with local partners, we invest in upstream clean fuel production capacity, offering development, sales, marketing, and logistics services to plant consortia, and a reliable project partner to off-takers, particularly of methanol and ammonia. We offer our international partners unparalleled visibility of and seamless access to the Chinese renewables market, and our Chinse partners an effortless international reach.
Venture Energy is a subsidiary of Wah Kwong, a privately-held integrated shipping group headquartered in Hong Kong with more than 70-year history, involved in ship owning, ship management, marine consultancy services and dry bulk operating.
