Marine fuels supplier Peninsula on Wednesday (5 August) said it has signed a Memorandum of Understanding (MOU) with European independent liquid energy and chemicals storage company Evos to jointly progress the development of dedicated biofuel storage infrastructure at Evos’ terminal in the Port of Algeciras.

The proposed Evos expansion includes plans to develop up to 60,000 cubic metres of storage capacity, fully allocated to Peninsula to support the expansion of its biofuels supply chain in the region.

Located at the Strait of Gibraltar—one of the world’s busiest maritime corridors—the Evos Algeciras expansion project is intended to strengthen infrastructure for the energy transition in shipping. It will provide dedicated storage and handling capacity for low-carbon marine fuels, underpinning Peninsula’s quality proposition through control of its own supply chain.

John A. Bassadone, founder and CEO of Peninsula, said: “We are seeing an acceleration of biofuel adoption as a result of price volatility of conventional fuels and regulatory measures such as FuelEU and EU ETS. These regulations are designed to ratchet up, and biofuels are the most versatile, available option today to meet decarbonisation targets. 

“By partnering with Evos to build storage infrastructure, it allows us to control the quality of product and to blend biofuel ratios according to market demand. It will also offer our customers full flexibility and optionality when lifting bio products from us and further demonstrates Peninsula’s active commitment to the decarbonisation of marine fuels.”

Under the MOU, the parties will continue technical and commercial discussions on a long-term storage and handling agreement, subject to Evos’ final investment decision.

Evos will lead project development at its Algeciras terminal, including engineering, permitting and construction, while Peninsula will integrate the capacity into its growing global biofuels supply network.

Daan Vos, CEO at Evos, said: “Algeciras is already an important bunker and trading hub, with direct relevance to global shipping activity and inter-Mediterranean trade flows. Evos has a well-established position in the port as a bunker fuel storage terminal, and the expansion project with a strategic partner such as Peninsula builds on that position. 

“By developing infrastructure for marine biofuels, we can respond to changing demand in the bunker market and strengthen Algeciras’ role in the transition to lower-carbon shipping.”

The agreement reflects a shared ambition to support the evolution of the marine energy sector by investing in scalable, future-facing infrastructure in key global hubs.

Photo credit: Peninsula
Published: 6 August, 2026

Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (MMMCZCS) on Tuesday (4 August) released a new publication on how to design subsidy programmes to incentivize the use of zero or near-zero (ZNZ) fuels.

Decarbonizing shipping requires a shift to low- and zero-emissions fuels, but these remain substantially more expensive than the fossil energy they replace. 

“Targeted financial support can help close that gap, but its design determines whether subsidies buy cheap near-term emissions cuts or build a future low-emissions fuel system,” it said in a social media post.

“Pursuing both aims with a single undifferentiated instrument risks achieving neither well.”

In this paper, the center focuses on the active policy debate of the International Maritime Organization’s (IMO) Net-Zero Framework (NZF) to analyze the various design options.

“If implemented, this framework currently under negotiation would be a globally binding climate regulation for shipping,” MMMCZCS added.

MMMCZCS distilled the design of a ZNZ reward program into five interlocking “variables”: eligibility, abatement benchmark, multipliers, differentiation, and reward instruments. 

In this paper, it sets out the options under each variable and examines the trade-offs across incentive strength, fiscal durability, and environmental integrity. 

Note: The full paper can be viewed here. 

Photo credit: Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping
Published: 6 August, 2026

The Hong Kong and China Gas Company (Towngas) on Tuesday (4 August) has called for the Hong Kong government to boost the city’s green methanol bunkering capabilities as part of its first Five-Year Plan covering 2026 to 2030.

The company submitted its recommendations during the government’s public consultation on the plan, proposing measures to support low-carbon shipping in Hong Kong.

Among its key recommendations, Towngas proposes making full use of Hong Kong’s advantages as an international hub by improving port facilities for green methanol bunkering.

The company also urged the government to accelerate the commercialisation of green methanol and take the lead in developing an internationally aligned certification system for green fuels. 

Beyond green methanol, it also proposes establishing a new mechanism for trading green commodities, as well as expanding innovative financial instruments such as green infrastructure REITs, thereby consolidating Hong Kong’s position as a green finance and trading centre.

The recommendations form part of a broader package covering green energy transition, innovation and technology, and green finance, aimed at aligning Hong Kong’s development with China’s 15th Five-Year Plan while supporting the city’s long-term economic and environmental objectives.

Photo credit: Hong Kong and China Gas Company
Published: 5 August, 2026