Wah Kwong Maritime Transport launches Venture Energy Limited, a new subsidiary focused on clean fuel trading and driving innovation in global maritime decarbonisation.
HONG KONG S.A.R., China – 5 June 2025 – Wah Kwong Maritime Transport Limited (“Wah Kwong”), one of Asia’s leading privately held shipping companies, today announced the formal launch of Venture Energy Limited, a wholly owned subsidiary focused on the procurement, trading, and supply-chain integration of clean marine fuels.
Positioned strategically in Hong Kong, a global maritime and financial hub, Venture Energy is designed to leverage Wah Kwong’s strong operational expertise and extensive regional network to accelerate the global adoption of clean fuels in shipping. The new company will act as a vital link connecting clean fuel producers in Mainland China with end users across global bunkering ports, especially in Asia, providing an end-to-end solution from project development to product delivery.
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Venture Energy’s operations will include:
- Sourcing and trading of clean marine fuels (initially focusing on methanol)
- Supporting plant development projects that meet international certification standards
- Acting as an off-taker for low-carbon fuels for downstream clients and Wah Kwong’s own fleet
- Providing logistical and certification support across the clean fuels supply chain
The company plans to begin methanol supply operations by late 2026. These supplies will come from a portfolio of plants in China compliant with ISCC EU standards and capable of meeting the Tier 2 surplus Carbon Intensity criteria as outlined in IMO’s MEPC 83 resolution. Venture Energy has already secured nearly 500,000 tonnes per annum under Memorandums of Understanding (MOUs) and continues to expand its pipeline of competitively priced, low-carbon fuel sources.
Leadership Team
The commercial and strategic development of Venture Energy will be spearheaded by General Manager Deepak Devendrappa, a seasoned expert in low-carbon fuels. Deepak previously served as Global Director of Low Carbon Markets at Methanex Corporation (NASDAQ: MEOH) and held a board position with the Methanol Institute, the global trade association for the methanol industry.
Greg McMillan, who was previously the Investment Director at Wah Kwong Maritime Transport, will lead Venture Energy in the role of Executive Director, overseeing strategic alignment, governance, and growth.
Executive Insights
Hing Chao, Executive Chairman of Wah Kwong Maritime Transport, emphasized the broader context of this launch:
“As the energy transition gathers pace, it is increasingly important we push new ventures to invest, produce, and deliver the diversified solutions the 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 the 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 chains.”
Deepak Devendrappa, General Manager of Venture Energy, highlighted the company’s vision:
“Leveraging Wah Kwong’s extensive experience and expertise in shipping, we are expanding into the growing green fuels segment as an investor, off-taker, and fuel supplier. China can contribute significantly in terms of lowering green fuel costs for shipping companies, and we are committed to working with esteemed companies across the value chain. We thank our partners for trusting us as part of this maritime decarbonisation journey.”
Greg McMillan, Executive Director of Venture Energy, noted:
“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, certification bodies, local regulators, and downstream users has proven our ability to bring real value to this sector. We are grateful for the trust of our early partners and look forward to working closely to deliver competitively-priced clean fuels to where end users need them.”
About Wah Kwong Maritime Transport Limited
Wah Kwong Maritime Transport Limited is a Hong Kong-based, family-owned shipping company with a global operational footprint. Established in 1952 by T.Y. Chao, Wah Kwong is now under the stewardship of the third generation of the Chao family. The company owns and operates a diversified fleet of modern bulk carriers and tankers, and provides comprehensive ship management and marine consultancy services across Asia, the Middle East, Europe, and beyond.
With offices in Hong Kong, Shenzhen, London, and Genoa, Wah Kwong is known not only for its operational excellence but also for its pioneering role in maritime decarbonisation, actively investing in next-generation technologies and supporting global efforts to meet IMO climate targets.
About Venture Energy Limited
Venture Energy Limited is dedicated to becoming a leading provider of next-generation marine fuels, supporting the global transition to cleaner, low-carbon shipping. With a clear vision to drive maritime decarbonisation across Asia and beyond, Venture Energy develops and supports upstream clean fuel production and infrastructure projects, with a core focus on methanol and ammonia.
Through strategic partnerships with local plant consortia, Venture Energy invests in production capacity and offers a comprehensive suite of services including project development, sales and marketing, and supply chain logistics. Acting as a reliable partner to global fuel off-takers and maritime stakeholders, the company provides a seamless bridge between international markets and China’s clean energy ecosystem.
Venture Energy delivers unmatched visibility and market access to its international partners looking to enter China’s rapidly growing clean fuels sector, while also enabling Chinese producers to scale and reach global customers through efficient, certified, and reliable distribution channels.
The company operates as a subsidiary of Wah Kwong Maritime Transport Limited, a privately held, Hong Kong-headquartered integrated shipping group with over 70 years of industry leadership. Wah Kwong’s broad portfolio includes ship owning, ship management, dry bulk operations, and marine consultancy services, making it a natural platform to support and scale the impact of Venture Energy’s clean fuel initiatives.
Source Wah Kwong Maritime Transport Limited | Venture Energy Limited