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Peninsula announces Global Sustainability Initiative

Peninsula announces Global Sustainability Initiative

Announcing this major milestone in the growth of the business, Peninsula unveils the first step of its Global Sustainability Initiative is to create an LNG supply proposal.

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Peninsula, one of the first suppliers to deliver very low sulphur fuel oil (VLSFO) in 2019, says its subsequent strategy has focused on sustainable marine energy and can positively shape the ever-changing "green energy" environment with a shift into LNG supply.

“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," stated Peninsula’s CEO, John A. Bassadone.

The energy transition strategy of Peninsula is the result of an 18-month consultation process and the company says its good consumer relationships and global network have been critical in providing a clear picture of current and potential demand for fuel.

“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. Inmany cases, customers are opting for dual-fuelled ships and we will be uniquely placed to assist them with all their bunkering needs,” explains Victor Morales, Peninsula’s Global Head of Sales & Marketing.

Peninsula notes that its approach to the supply of LNG was "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."

“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," added John A. Bassadone.

Over the past year, LNG bunkering operations have certainly increased in the Spanish sector. Gas company Gasnam announced last month that in 2020, some 741 LNG bunkering activities were carried out in Spanish ports, 542 (272 percent) more than the 199 recorded in 2019.

Last year, a total of 122,058 cbm of LNG was bunkered in Spanish ports, of which 68.5% was supplied to ferries, 31.1% to cruise ships, and 0.4% to other vessel types.

Furthermore, the number of ports in Spain that routinely carry out LNG bunkering has risen from six to nine: Algeciras, Almería, Barcelona, Bilbao, Denia, Huelva, Malaga, Tenerife and Valencia.

Maritime Business World 

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