Global integrated supplier of marine fuels Peninsula Petroleum on Tuesday announced it is commencing physical supply operations in Malta from late December 2018 with exclusive barges and reliable cargo sourcing.
“As 2018 draws to a close, we are proud to announce the addition of Malta to our portfolio,” says John Bassadone, CEO and founder of Peninsula Petroleum.
“We remain focused on increasing value and optionality to our customers through the development of our global physical supply network and integrated platform.”
Peninsula Petroleum has 19 international offices in the major shipping and bunkering hubs and provides a worldwide physical supply and reselling offering.
In aggregate, Peninsula delivers more than 15 million metric tonnes of marine fuels per year.
“With 2020 comes great opportunity but also increased complexity surrounding availability of compliant fuels,” adds Bassadone.
“Malta is another location where our key strategic suppliers will continue to view Peninsula’s conservative model as the best off-take solution for their products.
“2018 has been another positive year for Peninsula putting us in an even stronger position. We would like to thank all of our stakeholders for their ongoing support, for us there is no greater endorsement of our business.”
Photo credit: Peninsula Petroleum
Published: 19 December, 2018
‘Generally, you have to heat VLSFOs to prevent waxing, but the more you heat them the lower the shelf life is going to be,’ Dr Malcolm Cooper, the Group Managing Director of VPS, tells Manifold Times.
Current low prices for road and aviation fuels in September could mean another increase of flashpoint off-spec cases for MGO when players start introducing the products back into the bunker stream.
Some bunker suppliers at various ports have even achieved their sales target for the year; the trend doesn't seem to be slowing down and suppliers are expecting a boom during end of September.
The company has entered a memorandum of agreement with Millenium Satu Ltd to acquire the 7,550 dwt oil tanker to increase service flexibility; vessel will be paid over an installment period of 36 months.
Deloitte & Touche JMs believe IPP has a viable claim against Dr Goh Jin Hian for breaches of his director’s duties to act with skill, care and diligence which he owned to IPP, states court document.
An earlier MPA notice outlined precautionary measures for personnel to observe when conducting marine refuelling operations at port in order to minimise the risk of contracting Covid-19.