Peninsula Petroleum Ltd has strategically expanded its business and reaffirmed its commitment to sustainability by commissioning a new liquefied natural gas (LNG) and bioLNG bunkering vessel from Hyundai Mipo Dockyard. With a capacity of 18,000 cubic meters and incorporating advanced technologies for efficient and safe operations, this vessel is a significant step in supporting the maritime industry's transition to cleaner fuels. It represents a strategic move to expand Peninsula’s LNG capabilities and address the growing demand for sustainable marine fuels.
The construction agreement, which includes an option for a second vessel, is a testament to Peninsula’s confidence in the continued rise of LNG-powered vessels. The first ship, to be delivered in 2027, will be deployed to strengthen operations in key areas such as the Strait of Gibraltar and the Western Mediterranean. This deployment strategy aligns with the company’s goal of providing reliable LNG supply in regions where demand is rapidly increasing.
Since October 2023, Peninsula has been successfully operating the Levante LNG, a 12,500 cubic meter bunkering vessel that has supplied LNG to significant customers, including Royal Caribbean, Eastern Pacific, K-Line, and MSC. The addition of the new vessel will further enhance Peninsula’s capacity to meet the needs of an industry focused on decarbonization and adopting lower-emission fuels.
This latest investment underscores Peninsula’s unwavering commitment to expanding its global LNG supply footprint and advancing the maritime industry’s sustainability goals. By collaborating with Hyundai Mipo Dockyard, the company is contributing to the broader trend of partnerships between shipbuilders and marine fuel suppliers, which are driving innovation in LNG bunkering technology. This approach positions Peninsula as a key player in the push toward sustainable maritime operations, inspiring confidence in the company's dedication to the industry’s evolution.
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