International Green Fuel Alliance Established in Hong Kong

November 20, 2025

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by Malik Johnson (World Ports Org.) On November 17, the 2025 World Maritime Merchants Conference, themed “Breaking Barriers and Embracing Change for Sustainable Development,” opened in Hong Kong, China. During the conference, the “International Green Fuel Alliance” (IGFA), jointly initiated by China Merchants Industry Group’s controlled enterprise Huashang Energy Technology Corp., Ltd. and upstream and downstream industrial chain partners, held its inauguration ceremony. The first batch of over 30 global industrial institutions officially joined forces to build a shipping decarbonization ecosystem.

Green fuels are a crucial pillar of the global energy transition and the essential pathway for the international shipping and aviation industries to achieve net-zero emissions. Currently, as the world accelerates its push for carbon neutrality and energy transition, green hydrogen and its derivatives—including green ammonia, green methanol, sustainable aviation fuel (SAF), synthetic fuels (E-fuels), and biofuels—are gradually becoming key pathways for deep decarbonization in the shipping, aviation, and transportation sectors.

Both the International Maritime Organization (IMO) and the International Civil Aviation Organization (ICAO) have set targets to achieve net-zero emissions by 2050. The European Union has introduced two regulatory frameworks, the EU Emissions Trading System (EU ETS) and the FuelEU Maritime regulation, to promote decarbonization in the maritime transport industry.

A relevant person in charge from Huashang Energy Technology Corp., Ltd. stated that the current demand for marine biodiesel, marine bio-natural gas (RNG), and green methanol is approximately 200 million tons, 40 million tons, and 6 million tons, respectively. The scale of global cross-border trade in green fuels is expected to reach hundreds of billions of US dollars. Under an accelerated transition scenario, sustainable fuels could meet 35% of the global shipping industry’s fuel demand by 2035.

It is understood that due to differences in energy structures, technological levels, policy mechanisms, and market maturity across different countries and regions, the development of the green fuel industry still faces structural challenges such as inconsistent standards, lack of mutual recognition of systems, imperfect market mechanisms, and insufficient production-demand alignment. The establishment of the International Green Fuel Alliance aims to address these challenges.

Supported by the Transport and Logistics Bureau of the Hong Kong Special Administrative Region Government, Huashang Energy Technology Corp., Ltd. and the International Clean Fuel Forum (Macao) acted as the main initiators, uniting enterprises and organizations from across the global industrial chain to jointly establish the “International Green Fuel Alliance.” The first batch of alliance members includes key players in the industrial chain such as China Classification Society, Bureau Veritas, Port of Sines Authority (Portugal), Sinopec (Hong Kong) Limited, The Hong Kong and China Gas Company Limited, China Merchants Energy Transportation Co., Ltd., and China Nanshan Development (Group) Co., Ltd., covering over 30 institutions from 10 countries and regions globally.

The alliance will leverage the strategic hub status of Hong Kong and Macao to jointly tackle the three major bottlenecks in the green fuel industry: “lack of mutual recognition of standards, mismatch between production and demand, and absence of financial tools.” As a next step, the alliance plans to establish an information exchange platform for the green fuel industry, research and assist in the formulation of green fuel industry policies, drive collaboration and innovation in green fuel demonstration projects, participate in setting green fuel industry standards and rules, promote the innovative linkage between green finance and carbon markets, and help Hong Kong become an international green fuel trade center.

Deng Renjie, Deputy General Manager of China Merchants Group, and Qiu Zhuohang, Permanent Secretary for Transport and Logistics of the Hong Kong SAR Government, as representatives of the supporting units, jointly pressed the button symbolizing the official launch of the alliance.

It was reported that the World Maritime Merchants Conference was first held in 2021 and has been successfully held four times in Hong Kong to date, becoming an important platform for global shipping industry dialogue. The 2025 World Maritime Merchants Conference was led by China Merchants Group and co-organized by the Transport and Logistics Bureau of the Hong Kong Special Administrative Region Government, the Baltic and International Maritime Council (BIMCO), the International Chamber of Shipping (ICS), and the Hong Kong Shipowners Association (HKSOA). Over 1,300 relevant authorities and leaders from global shipping, ports, trade, logistics, financial institutions, and industry regulatory bodies attended the conference in person. READ MORE

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The Caravel Group CEO urges global shipping to accelerate green transition (Manifold Times)

Excerpt from Manifold Times: Angad Banga, at a Hong Kong forum, urged shipowners, regulators, and financiers to act decisively in the wake of the IMO’s recent postponement of its Net-Zero Framework.

Angad Banga, Chief Operating Officer of The Caravel Group, the parent company of Fleet Management Limited, on Tuesday (18 November) called for urgent and coordinated investment to accelerate the maritime industry’s transition to net-zero emissions.

He spoke at the World Maritime Merchants Forum during Hong Kong Maritime Week 2025.

Banga is also Chairman of the Hong Kong Shipowners’ Association and Chairman of the Promotion and External Relations Committee of the Hong Kong Maritime and Port Development Board.

“If we wait for perfect clarity, we will lose ground,” Banga urged in his keynote address Unlocking Global Maritime Capital: Hong Kong’s Role in Leading the Green Transition.

He urged shipowners, regulators, and financiers to act decisively in the wake of the IMO’s recent postponement of its Net-Zero Framework. “This creates a leadership opportunity — and Hong Kong is ready to lead”.

Banga positioned Hong Kong as a gateway between China and the global market, combining its role as an international maritime hub and financial powerhouse to fund decarbonisation as well as explore innovative financial tools — from sustainability-linked loans to Stablecoins and the digital yuan — to drive the transition.

Hong Kong shipowners control nearly 10% of the global merchant fleet by deadweight tonnage, with four of the world’s top 10 ship management companies headquartered in the city.

Banga reaffirmed Hong Kong’s push to expand capacity for alternative fuels — ammonia, methanol, hydrogen, biofuels, and LNG — supported by the Hong Kong Government’s Action Plan on Green Maritime Fuel Bunkering.

By the end of Hong Kong Maritime Week, Banga said the city will have completed three LNG bunkering operations alongside cargo handling.

“Our location in the Greater Bay Area, near Mainland China’s renewable fuel production hubs, gives us a unique advantage as one of the most practical and efficient green fuel supply centres,” he told delegates.

Addressing the recent postponement of the IMO’s Net-Zero Framework, Banga warned that fragmented regulations such as CII, EEXI, EU ETS, and FuelEU create a “patchwork” of overlapping requirements that slow investment and risk stranded assets.

“Without clear incentives and predictable frameworks, the risk of stranded assets is real,” he said, urging shipowners, regulators, and financiers to “work together to harmonise frameworks, build supply chains, and share costs.” READ MORE