(26 June 2025, Hong Kong) – CIMC Enric Holdings Limited and its subsidiaries (collectively, “CIMC Enric” or the “Company”) (Stock code: 3899.HK) are pleased to announce that the Transport and Logistics Bureau of the Hong Kong Special Administrative Region (“Transport and Logistics Bureau”), and CIMC Enric have signed a Memorandum of Understanding (“MOU”) in Hong Kong concerning the “Development of Hong Kong’s Green Marine Fuel Ecosystem”. The signing ceremony was witnessed by Ms. Mable Chan, Secretary for Transport and Logistics, and Mr. Yang Xiaohu, Executive Director and President of CIMC Enric, Mr. Li Dong, General Manager of CIMC Enric Technology Innovation Sharing Centre, signed the agreement on behalf of the Company together with the Bureau's representative.
The cooperation is based on the vision of promoting Hong Kong's development into a green maritime fuel bunkering centre and improving the related industrial ecosystem. It aims to align with Hong Kong's needs and the industry’s capabilities, achieving mutual benefit and common development between relevant departments of the Hong Kong Special Administrative Region (“HKSAR”) Government and the enterprise.
The MOU stipulates that the Transport and Logistics Bureau and CIMC Enric will jointly promote common business in the field of green marine fuel in Hong Kong, establish a communication and cooperation mechanism, and facilitate business collaboration to achieve mutual development. Both parties will engage in comprehensive and in-depth cooperation to secure stable supply of green marine fuel, establish a green marine fuel trading market, and promote the development of green-marine-fuel-related businesses, with the goal of achieving net-zero carbon emissions from international shipping by or around 2050.
In November 2024, the HKSAR Government promulgated the “Action Plan on Green Maritime Fuel Bunkering” (the “Plan”). It is expected that Hong Kong will provide bunkering services to ocean-going vessels powered by green maritime fuels such as liquefied natural gas (“LNG”) or green methanol more than 60 times a year by 2030, with over 200,000 tons of green maritime fuel. Under the guidance of this Plan, Hong Kong will align with the global net-zero emission vision of the International Maritime Organization (“IMO”), striving to reach net-zero carbon emissions from international shipping by or around 2050; Furthermore, by 2026, carbon emissions from Hong Kong-registered ships are targeted to be reduced by at least 11% compared to 2019 levels.
As one of the major international shipping centres, Hong Kong is vigorously advancing the green transformation of marine fuel. Ms. Mable Chan stated at the signing ceremony that Hong Kong is the world's seventh-largest traditional marine fuel bunkering centre, ranking second in China and first in the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”), with a solid foundation to support future development, “What we need to strive for in the future is new energy bunkering, providing green shipping solutions for relevant stakeholders.”
CIMC Enric is a global leading provider of clean energy critical equipment, core processes, and integrated service solutions. Its subsidiary, Nantong CIMC Sinopacific Offshore & Engineering Co., Ltd. (“CIMC SOE”), is a globally leading manufacturer of marine LNG carriers and bunkering vessels. CIMC Enric has a deep business presence in both the clean energy and maritime sectors. It has already established the Greater Bay Area’s first green methanol production plant in Zhanjiang City, Guangdong Province, which is expected to commence operations in the fourth quarter of this year. The initial annual production capacity is 50,000 tons, and it is expected to reach a combined capacity of 50,000 + 200,000 tons by 2027.
Following the establishment of the strategic cooperation with the Transport and Logistics Bureau, CIMC Enric will, with the support of relevant departments, explore multiple business scenarios in the GBA to construct the green marine fuel ecosystem, including green methanol bunkering, trading, and financial settlement.
