Expanding Peninsula’s Footprint Into Arabian Gulf & Indian Ocean - Peninsula360

 Peninsula,the leading global marine fuel supplier and reseller, today announces the commencement of physical operations in the Port of Fujairah.

Peninsula’s strong track record as a reseller in Fujairah, will now be combined with its global physical supply expertise to help further cement its position in and around the Arabian Sea and Indian Ocean. The opening of a physical supply operation in Fujairah is the next step in Peninsula’s expansion from the group’s Mediterranean hub. Peninsula believes that Fujairah will also play a vital role in the marine energy transition, matching the group’s own aspirations in lowering carbon emissions.

With the region’s continuing pivotal role in global commodity markets, the addition of Fujairah to Peninsula’s physical network provides a new supply option dedicated to quality and service in one of the world’s largest and most important trading hubs.
Peninsula will start operations with its newly-built, 8,000 DWT, 115m tanker, the Hercules Star. A second vessel will be added to complement operations in the coming weeks. Peninsula is fully committed to eco-efficient fleet renewal and has further newbuilds on order. The 22,000 DWT product tanker and supply vessel, Splendour, was deployed to Mauritius earlier this year and continues to provide comprehensive Marine Fuelling Solutions in the southern Indian Ocean.

In addition to the Port of Fujairah physical operation, Peninsula has opened a commercial office in Dubai to further strengthen and develop key regional relationships.

John A. Bassadone, CEO of Peninsula said: “Firstly I would like to thank the Fujairah Department of Industry and Economy, the Fujairah Free Zone Authority and the Fujairah Port Authority for their trust in Peninsula. It has been a pleasure to work alongside such professional and forward thinking organisations, who share similar values and a common vision of Fujairah as an increasingly important global commodities hub. Shipping customers already view the port as a safe and reliable bunkering location and Peninsula will work hard to further enhance this excellent reputation. We also look forward to partnering with the authorities in developing the region’s alternative fuels roadmap.

Our own reputation is for transparency, quality of product and service, plus the provision of customer-led marine energy solutions. We now have an unrivalled physical supply platform stretching from Panama in the west to Fujairah in the east. Our Mediterranean hub is now well-connected to both the Atlantic (Canary Islands) and the Middle East. Coupled with our Northern Europe operations across the ARA and Skaw and our Indian Ocean presence in Mauritius, Peninsula now offers a compelling proposition for customers requiring marine fuel supply across this entire region. No other physical supplier provides this scale of optionality across an integrated platform.”

 

 

Peninsula Announces Global Sustainability Initiative & Establishes LNG Bunkering Business

 Peninsula, the leading marine fuel solutions company, has initiated its Global Sustainability Initiative. Having been one of the first suppliers to provide Very Low Sulphur Fuel Oil (VLSFO) in 2019, Peninsula has since focused its strategy on transition and renewable marine energy.

 Peninsula’s CEO, John A. Bassadone explained, “IMO2020 was a complex strategic planning process and we delivered the transition extremely effectively. Our foresight and professionalism throughout that period led to Peninsula deepening relationships with clients and stakeholders; cementing our position as the benchmark for quality within the industry. Being able to adapt and evolve to the changing market is a core value of the company.” For Peninsula, the initial phase of our Global Sustainability Initiative, was to build an LNG supply proposition. In so doing the group is able to positively shape the ever-changing ‘green energy’ landscape.

Peninsula360 energy transition strategy is the culmination of a wide-ranging consultation process spanning over 18 months. With an integrated supply network already spanning the globe, the group’s strategy was to add LNG bunkering as an additional service. This took considerable planning and acquisition of new skills. Building internal expertise and mapping the supply environment now ensures that relevant LNG solutions can be provided to Peninsula’s customers. On the topic of customers, Peninsula feels that its existing worldwide relationships have proved vital in securing important knowledge and a clear picture of current and future demand.

 “We are already in dialogue with multiple customers regarding their LNG strategies” stated Victor Morales, Peninsula’s Global Head of Sales & Marketing. “We are fortunate to have deep relationships with many customers, either already operating LNG-powered vessels, or in the final stages of delivering new ships for service. Building our LNG proposition around customer needs is a natural progression for us, Morales added, as it is a methodology we have followed in conventional bunkering for 25 years. In many cases, customers are opting for dual-fuelled ships and we will be uniquely placed to assist them with all their bunkering needs”

Peninsula is a naturally risk-averse company and when it came to the operational challenges of LNG supply their planning has been wholly focused on replicating its reputation as a safe, quality operator by all stakeholders and in ensuring that it is ready to meet the transition challenges. Nacho de Miguel was an early recruit adding significant pedigree to this process. Having commenced his career in Cepsa’s bunker business, where he counted Peninsula as a customer, he progressed into LNG-focused senior positions with Union Fenosa.

 “I am fortunate to have worked extensively in both bunkers and LNG therefore I welcomed the opportunity to bring this experience and knowledge to Peninsula as it develops its worldwide LNG supply business. The company has a long history of investing for the future and is committed to delivering a sustainable marine energy proposition for its global customers.” De Miguel’s position as Head of Business Development for Peninsula empowers him to lead the entire energy transition strategy and he has already built a team covering-off the key elements of LNG bunker supply such as technical, regulatory and governance as well as the commercial agenda for the group.

 John A. Bassadone concluded: “This is another major milestone in Peninsula’s evolution. We have built a team of very experienced individuals in the sustainability and LNG space who will drive Peninsula’s transition to a cleaner future. Peninsula already has a wide-ranging presence across the maritime supply chain. Initially we are using this expertise to progressively build an LNG bunkering proposition, which will benefit our customers globally. We are already in advanced discussions with shipyards, governments, maritime authorities, suppliers and customers, to name but a few, and the response so far has been extremely positive given Peninsula’s excellent reputation in conventional bunkering. As technology continues to improve we will invest in further viable green energy solutions. Ultimately we are committed to a zero carbon future and I strongly believe that Peninsula will play a key role in marine energy reaching this destination.”