EC gives green light on Itochu-Peninsula ammonia bunkering joint venture
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The European Commission (EC) recently approved, under the EU Merger Regulation, the creation of a joint venture by Tokyo-based ITOCHU Corporation (ITOCHU) and marine fuel supplier Peninsula.
The transaction relates primarily to marketing services for ammonia bunkering supply operations and the trading of ammonia as marine fuel.
“The Commission concluded that the notified transaction would not raise competition concerns, given that the joint venture has negligible activities in the European Economic Area, and given the companies’ limited combined market position and limited market positions resulting from the proposed transaction,” EC said.
“The notified transaction was examined under the simplified merger review procedure.”
Manifold Times previously reported ITOCHU executing a Memorandum of Understanding (MOU) with Peninsula on the joint development of ammonia bunkering in Spain.
At the time, ITOCHU said it aimed to establish a global supply chain by promoting the joint development of an ammonia bunkering in Algeciras, Spain, which is located in Gibraltar Strait and is also a strategic location for international logistics, together with Peninsula and future partners.
The company also said Peninsula’s active investment, involvement in and understanding of alternative fuels will contribute to the development of an ammonia bunkering hub in Algeciras, Spain.
Related: Spain: Itochu, Peninsula enter MOU for joint development of ammonia bunkering in Gibraltar Strait
Photo credit: Guillaume Périgois on Unsplash
Published: 4 May, 2026
