LNG

June 7 (LNGJ) - Peninsula, the company founded to fill a gap in the Gibraltar market for bunkering services and benefitting from the assistance of a refinery across the bay in Algeciras in Spain, said it had started physical supply operations on the north end of the Suez Canal as one of the first foreign suppliers for the waterway that sees over 20,000 vessels passing through every year.

   The company was selected by Egypt back in February 2022 as one of the first international companies to be given a licence to function as a bunker supplier at Egypt’s Mediterranean side ports. Peninsula said the region represented a natural extension of Peninsula’s existing physical supply hubs. “We want to thank all the authorities and especially the Egyptian Government for this opportunity to operate in the Suez Canal,” said John A. Bassadone, Chief Executive of Peninsula. “We have been working closely with them for over a year and a half to ensure that we are in a position to build the local bunker market beyond historical levels. Port Said has huge potential for growth,” Bassadone added.

Peninsula Petroleum, a leading marine fuels company, teamed up with Petronas Marine of Malaysia to complete its first LNG bunker supply to H-Line Shipping of South Korea in Malaysian waters.