- Peninsula aims to scale up LNG and biofuel supplies by 2030 before transitioning to sustainable fuels like methanol.
- Biofuels and LNG are expected to lead the marine fuel transition in the short term due to availability.
- Peninsula is actively upgrading its fleet and infrastructure to meet future decarbonization demands
As the marine fuel industry shifts towards a low-carbon future, Peninsula is spearheading efforts to adopt LNG, biofuels, and eventually sustainable options like green methanol. With robust plans for expanding its operations and infrastructure, the company aligns with global decarbonization targets while adapting to market demands, reports SP Global.
Expanding LNG and Biofuel Use
Peninsula has integrated LNG and bio blends into its supply, with LNG and biofuels projected to account for 5%-10% of its bunker sales by 2030.
The company is focusing on bio blends like B20 to B30 at major refueling hubs, although B100 has gained interest among specific segments like superyacht owners.
IMO Targets Driving Change
Global shipping must reduce greenhouse gas emissions by 20%-30% by 2030 and reach net zero by 2050.
LNG and biofuels are seen as viable interim solutions, with biofuel demand expected to grow significantly by 2030.
Fleet and Infrastructure Upgrades
Peninsula operates over 50 barges globally, upgrading them to comply with stricter regulations.
A new LNG bunker ship with an 18,000 cu m capacity is slated for 2027, complementing its existing fleet.
Collaborations and Long-term Vision
Peninsula collaborates with Scale Gas and Enagas for LNG supply and infrastructure.
It is also working with Itochu to develop ammonia bunkering and exploring methanol supply deals with a major producer.
Future Role in Sustainable Fuels
MacLean envisions Peninsula bridging the gap between sustainable fuel producers and shipping companies.
While challenges like limited biofuel feedstocks and demand aggregation exist, Peninsula is positioned to commit to long-term supply agreements once customer demand aligns.
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Source: SP Global
