LNG

Peninsula, the leading global independent marine energy supplier 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, has successfully supplied Royal Caribbean’s cruise liner “Silver Nova” with LNG fuel in an operation in Gibraltar.

The supply operation was carried out by Peninsula’s latest addition to its fleet, the LNG bunkering vessel “Levante LNG” with 12,500 cubic metres of capacity.

The “Levante LNG” bunker ship arrived at her Mediterranean home at the end of September and is now fully operational in the Strait of Gibraltar and the ports of the Western Mediterranean.

“We are all very proud of hitting this milestone. This is our first LNG supply in Gibraltar keeping us ahead of the decarbonisation curve and marking our move into the physical space through our joint owned, and operated vessel,” explained John A. Bassadone, Chief Executive of Peninsula.

“My thanks also go to Royal Caribbean for their commitment to Peninsula in further advancing a lower-carbon future together,” Bassadone stated.

Shipping asset

Nacho de Miguel, Peninsula’s Head of Alternative Fuels and Sustainability, said the company’s LNG bunkering services in the West Med are now fully operational.

“Our latest asset is a state-of-the-art, dedicated LNG supply vessel that is providing lower carbon alternatives to the global LNG-powered fleet,” said De Miguel.

“I want to thank Royal Caribbean for trusting in us to supply their 'Silver Nova' and I have no doubt this is only the beginning of our decarbonisation journey together,” he added.

Peninsula was also only recently awarded an LNG Bunkering Operator Licence from the Government of Gibraltar and the Gibraltar Port Authority.

“The ability to operate our LNG vessel in the Strait of Gibraltar will bring lower-carbon solutions to vessels entering and leaving the Mediterranean,” said the company at the time.

“The proactivity of the Gibraltar Port Authority and the Government of Gibraltar will continue to cement the jurisdiction’s position as a leading centre for maritime excellence,” Peninsula said.

Far East fixing

The company operates far beyond Gibraltar as well and at the start of October 2023 Peninsula fixed its first Biofuel deal for one of the world’s largest shipping companies from China.

Cosco Shipping Lines, the Shanghai-based international shipping company, teamed up with Peninsula units in Shanghai and Singapore for a re-fuelling with biofuel.

Peninsula’s Shanghai and Singapore trading teams recently combined to deliver 2,000 tons of UCOME-based B24 marine biofuel to the 155,000 deadweight ton Cosco container carrier, the “CSCL Venus”, through local Singapore physical supplier Vitol Bunkers.

Biofuel demand continues to increase as a result of tighter regulation around maritime carbon emissions.

Egyptian Natural Gas Holding Company (EGAS), the state owner of the Arab nation’s natural gas assets, and Kanfer Shipping, the Norway-based company focusing on small-scale LNG sea transportation and LNG bunkering, said they had formed a joint venture to re-fuel ships transiting the Suez Canal.