Maritime fuel supplier Peninsula has concluded its first biofuel deal for Japanese shipping company Kawasaki Kisen Kaisha (K Line).
On 11 August, Peninsula arranged the delivery of 700 tons of UCOME-based B24 marine biofuel to K Line’s oceangoing bulk carrier M/V Cape Amal in Hong Kong through local physical supplier Chimbusco Pan Nation (CPN).
In addition to announcing this biofuel deal, Peninsula said it will be taking delivery of its newly-built LNG bunker vessel Levante LNG which will add physical capacity in the Mediterranean.
Nacho de Miguel , Head of Alternative Fuels and Sustainability at Peninsula said: “Our focus on key ports, where there is sufficient demand for alternative products such as biofuels and LNG/bioLNG. We have seen increased activity in the Western Mediterranean and ARA regions as well as an increase in very promising prospects through our network in Asia. The “K” Line deal would not have been possible without their trust and the solid relationships held through our regional offices and I would like to thank everyone involved in this deal.”
Victor Morales , Chief Commercial Officer for Peninsula added: “I would like to thank “K” Line for placing their trust in Peninsula. Being able to build these relationships with other reputable, blue-chip companies will allow us to support the shipping industry’s decarbonisation journey. We look forward to continuing our activity globally and to build on our reputation as the most reliable company in bunkering. Our vision is to be able to provide our customers with fuelling solutions across the different product categories as they are adopted by the industry.”
Earlier this year, Peninsula also completed its first sustainable biofuel delivery to Norden’s bulk carrier La Luna in Gibraltar.
In its latest white paper “Biofuels in shipping,” classification society DNV reported that the flexibility of biofuels can enable the shipping industry to accelerate its journey towards decarbonisation while maintaining operational efficiency. However, the current limitations in production capacity may impact short-term supply and create stiff competition with other sectors.
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