Hong Kong has potential to become green marine fuel hub with Beijing’s backing

Hong Kong can become a regional trading hub for green marine fuel and help augment China’s influence on supply and pricing, according to an industry player.

“Hong Kong’s advantages lie in its roles as an international free port, shipping and financial hub, and the government’s willingness to support energy transition and green finance,” said Leo Yang Xiaohu, president of CIMC Enric Holdings, which built the city’s first hydrogen refuelling station and related infrastructure in 2023.

By boosting domestic green fuel demand, Hong Kong can help Beijing fend off trade barriers overseas and enhance the nation’s influence on its pricing, Yang said in an interview on Wednesday. “If Hong Kong can develop a trading hub, we can have a bigger say in green fuel trading and pricing,” Yang said.

The European Union, the world’s largest biodiesel market, last August imposed anti-dumping duties on Chinese biodiesel, prompting producers to seek alternative markets.

Last year, the government published an action plan to develop Hong Kong into a green fuel bunkering or shipping-fuel supply centre. In February, Financial Secretary Paul Chan Mo-po pledged to provide tax exemptions for importing and consuming green methanol.
(Clockwise from top left) Secretary for Transport and Logistics Mable Chan, CIMC Enric Holdings president Leo Yang Xiaohu, CIMC Enric Technology Innovation Sharing Centre general manager Li Dong and principal assistant secretary of the Transport and Logistics Bureau Klaus Chan, at the MOU signing ceremony on Wednesday. Photo: Handout
(Clockwise from top left) Secretary for Transport and Logistics Mable Chan, CIMC Enric Holdings president Leo Yang Xiaohu, CIMC Enric Technology Innovation Sharing Centre general manager Li Dong and principal assistant secretary of the Transport and Logistics Bureau Klaus Chan, at the MOU signing ceremony on Wednesday. Photo: Handout

Secretary for Transport and Logistics Mable Chan Mei-po said in a statement on Wednesday that the Marine Department would gazette the code of practice for methanol bunkering this month.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Hong Kong public hospitals to limit ‘as needed’ medication to 8-week supply

Hong Kong public hospitals to limit ‘as needed’ medication to 8-week supply

Patients at Hong Kong public hospitals and clinics who are prescribed medication for “as needed” use will receive a maximum eight-week supply starting from next Thursday as part of initiatives to reduce drug wastage. The Hospital Authority on Friday announced that selected medication prescribed for as-needed use would be dispensed with a maximum supply of

27 June 2025
Artist Jerry Loo with the Superhero Landing sculpture featuring at the PMQ exhibition in Hong Kong’s Central district. Photo: Neon Heroes

‘Neon Heroes’ shines light on Hong Kong’s illuminated heritage

For decades, neon signs lit up Hong Kong, casting vivid hues across the urban jungle. But as government regulations continue to tighten, most of those glowing tubes have been replaced with LED. Artist Jerry Loo with the Superhero Landing sculpture featuring at the PMQ exhibition in Hong Kong’s Central district. Photo: Neon Heroes Running from

27 June 2025
1,000 premium taxis to operate in Hong Kong in July, half the intended number

1,000 premium taxis to operate in Hong Kong in July, half the intended number

About 1,000 premium taxis will hit the streets of Hong Kong in July, falling short of the government’s target by about 50 per cent, despite the positive responses received during the trial, according to an official. Commissioner for Transport Angela Lee Chung-yan said on Friday that the Transport Department would grant official licences to five

27 June 2025
HK$15 meals for 50,000 elderly Hong Kong residents in coupon initiative

HK$15 meals for 50,000 elderly Hong Kong residents in coupon initiative

About 50,000 elderly Hong Kong residents will receive coupons in July and October, enabling them to purchase breakfast or afternoon tea for HK$15 (US$2) as part of a government-funded initiative. Secretary for Labour and Welfare Chris Sun Yuk-han announced on Friday that participants would receive six coupons next month, which can be used to buy

27 June 2025
Logo Hongkong Land Holdings Limited

Hongkong Land Buys Back Shares

Hongkong Land Holdings Limited is a property investment, management and development company. It owns and manages approximately 850,000 square meters (sq. m.) of prime office and luxury retail assets in several Asian cities. Its segments include Investment properties and Development properties. Its Central Hong Kong portfolio represents approximately 450,000 sq. m. of prime property. It

27 June 2025
People celebrate the ceasefire between Iran and Israel at Enghelab Square in Tehran, Iran, on June 24. The ceasefire was declared on Tuesday. Photo: Xinhua

US-China rare earth agreement, Xi set to miss Brics summit: SCMP’s 7 highlights

We have selected seven stories from the SCMP’s coverage over the past week that resonated with our readers and shed light on topical issues. If you would like to see more of our reporting, please consider subscribing. 1. White House says US reaches ‘understanding’ with China on rare earth shipments The United States and China

27 June 2025
0
Would love your thoughts, please comment.x
()
x