- New Fuel Supply Facilities Launched in Abu Dhabi and Jebel Ali.
- Peninsula Secures Licenses and Expands Global Reach to 500 Ports.
- Red Sea Crisis Diverts Ships, Boosting Fuel Sales in Key Locations.
The company has announced plans to expand into the Middle East, expanding its operations into the region. The firm is widely known as a marine fuel provider, and the expansion will give it a positive step into the area. Its strategic plan of expansion responds to increased demand in the region for both conventional and alternative marine fuels, reports Yahoo Finance.
New Supply Operations at Abu Dhabi and Jebel Ali
Kenny MacLean, Peninsula’s Chief Operating Officer (COO) has contacted several US-based news outlets regarding the new physical supply operations in Abu Dhabi and Jebel Ali, United Arab Emirates. The two new locations have been situated to complement an already established facility in Fujairah on the Gulf of Oman.
In a statement to the press, the company claims this expansion has increased its market’s size. It further added that it acquired fuel bunker licenses both at Abu Dhabi and Jebel Ali. It meant services were now offered in 500 ports around the world.
Global Fuel Sales Rise Amid Red Sea Crisis
MacLean stated, that as the crisis in the Red Sea persists, ships are turned to go around South Africa and therefore this route has become more of the order of the day for most shipping firms. Consequently, it leads to increased fuel sales in key locations like Mauritius, Las Palmas, Gibraltar, and Algeciras. As demand for fuel stabilizes in such locations, Peninsula has managed to expand its operations further.
Increasing Focus on Alternative Marine Fuels
Peninsular plans to increase the supplies of alternative marine fuels to cut carbon emissions. MacLean said: “Our specialist LNG [liquefied natural gas] bunkering vessel, Levante LNG, is operating in the western Mediterranean, so we are naturally seeing demand there.” Methanol, biofuels, ammonia, hydrogen and liquefied petroleum gas (LPG) are some of the most common alternatives currently in use.
LNG and Marine Biofuel Expansion
Peninsula will target traditional shipping lanes with adequate infrastructure for LNG resources. With emission trading schemes and more stringent environmental regulations expected to drive the growth in marine biofuel demand through 2025, Peninsula is poised to take advantage of this demand.
The company’s fleet of chemical tankers is ready to deliver marine biofuel. Peninsula is collaborating with third parties to establish methanol and ammonia bunkering facilities. However, MacLean observed that the latter is unlikely to be at full operational capacity in the short term.
Peninsula Expands After QatarEnergy’s LNG Fleet News
Peninsula’s expansion comes after state-owned QatarEnergy announced it will build six new QC-Max LNG vessels, each with a capacity of 271,000 cubic metres.
“Global marine fuel supplier targets the Middle East for conventional and alternative fuels” was created and published by Offshore Technology, a GlobalData-owned brand.
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Source: Yahoo Finance
