The company said it had been supplying VLFSO to customers in Europe, Asia and the Americas since July. Peninsula Petroleum ceo John A. Bassadone said, “To date we have delivered 300,000 tonnes of VLSFO in our physical supply ports of Gibraltar, Algeciras, Barcelona, ARA, Canary Islands, Malta, Panama, US Gulf Coast and Los Angeles. By 31 December more than 600,000 tonnes will have been delivered to our clients.”
The supplier has also increased its storage capacity ahead of 1 January 2020 to over 400,000 tonnes of terminal capacity in Europe and 370,000 tonnes in the Americas, as well as acquiring a panamax vessel for product procurement, floating storage and cargo transhipment.
In terms of supply the company said it had secured the required mix of fuels to meet the demands of its customers.
Alex Lyra, Peninsula Petroleum’s global head of supply & trading stated, “We have secured the full mix of products and availability in our physical ports from reliable partners in advance of 2020 and beyond. Our enhanced supply chain offers customers comprehensive solutions across multiple locations.”