“Having been selected by the local authorities as one of the first international companies to be given a licence to function as a bunker supplier back in February 2022, Peninsula has commenced operations. The products to be offered are VLSFO, HSFO 3.5% and LSMGO—all according to ISO8217:2017 specification,” the company said.
Good year-round weather minimises the complications of refuelling the around 20,000 vessels that traverse the canal every year.
“We want to thank all the authorities and especially the Egyptian Government for this opportunity to operate in the Suez Canal. 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,” John A. Bassadone, CEO of Peninsula, said.
“Port Said has huge potential for growth, and we feel that our track record and dedication to quality, along with our growing network in the region, will create an attractive proposition.”
Elsewhere in the region, Peninsula also has physical supply operations in Fujairah and has an office in Dubai, both in the UAE.
Peninsula claims to perform over 25,000 deliveries a year to over 2,000 worldwide customers, and has 19 offices and 380 employees. It operates from regional hubs in Houston, London, Gibraltar and Singapore.
According to Ship & Bunker, Peninsula ranks the world’s fourth-largest bunker supplier in 2023.