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Peninsula secures renewed syndicated European credit facility of USD 450 million

Facility has been amended to enable financing of delivering low carbon fuels to Peninsula’s customers, not just traditional fuels; facility includes an increase from USD 350 million to USD 450 million.

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Marine fuel supplier Peninsula on Thursday (18 May) confirmed the renewal of its syndicated European credit facility. 

The two-year facility includes an increase from USD 350 million to USD 450 million, representing the syndicate’s continued endorsement of Peninsula’s business model. 

Together with the group’s Asian syndicated facility and other bilateral lines, this increase in the European credit facility provides Peninsula with a total funding package in excess of USD 1.3 billion, the firm said. 

“Peninsula continues to focus on the delivery of low carbon fuels to customers, and this facility has been amended to enable the finance of these products, not just traditional fuels. The additional liquidity generated will be deployed in support of these products,” it said.    

John A. Bassadone, CEO of Peninsula, said: “The renewal and increase of our European credit facility further supports Peninsula’s position as a market leader. At a time when decarbonisation is at the top of everyone’s agenda, our commitment to the supply of lower carbon fuels resonates with our stakeholders to attract the highest quality banking partners. This additional funding will allow us to deliver lower carbon solutions to our customers across the globe.”

RBS remains as facility agent together with HSBC, Citibank, Bankinter, Lloyds and UBS as existing lenders. The renewed facility sees the introduction of another top tier participant, Unicredit, to the lending syndicate. The renewal represents a continuation of Peninsula’s strategy to ensure that the company’s growth ambitions can be matched by its banking partners.  

Tom Francisco, CFO of Peninsula, said: “We are excited to add Unicredit to our European syndicate.  Unicredit has worked with Peninsula for several years on a bilateral basis and continues to support our vision. Peninsula’s transparency and conservative risk management approach puts us among the most trustworthy and responsible companies in the marine energy space. This has been at the core of our corporate values over the last 27 years”.

“We’re delighted to support Peninsula with this transaction, which not only strengthens their liquidity position but has also helped them to diversify their lending relationships by bringing in a new syndicate partner. We’re looking forward to growing our relationship with Peninsula and proactively helping to deliver a more sustainable future for the shipping sector” added Larry Dosunmu, Asset Based Lending, NatWest.

 

Photo credit: Waldemar on Unsplash
Published: 19 May, 2023

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Alternative Fuels

Hong Kong-based Sun Ferry takes delivery of diesel-electric ferry “Xin Ming Zhu 30”

New vessel, designed by Incat Crowther and constructed by Guangzhou-based shipbuilder AFAI Southern Shipyard, will serve inter-island commuter and tourism operations across Hong Kong.

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Hong Kong-based Sun Ferry takes delivery of diesel-electric ferry “Xin Ming Zhu 30”

Global digital shipbuilder Incat Crowther on Wednesday (19 March) said Hong Kong-based ferry operator Sun Ferry has taken delivery of Xin Ming Zhu 30, a new, 35-metre diesel-electric ferry. 

The new vessel, designed by Incat Crowther and constructed by Guangzhou-based shipbuilder AFAI Southern Shipyard, is the third vessel to join a fleet of seven new vessels designed by Incat Crowther for the mass transit operator.

The vessel will serve inter-island commuter and tourism operations across Hong Kong, connecting Peng Chau, Mui Wo, Chi Ma Wan and Cheung Chau.

The 300-seat passenger ferry boasts Veth azimuth thrusters that provide high manoeuvrability at operating speeds of 14 knots. The adoption of this technology makes the vessel suitable for berthing at piers on inter island routes.

The vessel is also fitted with 72 solar panels providing 7.5 kilowatts of on-board power.

Sam Mackay, Technical Manager at Incat Crowther, said: "This vessel reflects Sun Ferry’s commitment to future focused design solutions that not only meet operational needs, but that exceed customer expectations.”

“With diesel-electric propulsion, solar technology, and passenger-centric design, it sets a new benchmark for sustainable and efficient ferry services in Hong Kong.”

The delivery of the 35-metre hybrid vessel follows the delivery of two 45-metre conventional diesel-powered vessels to Sun Ferry. The final three vessels, all 45-metre vessels, will be delivered by the end of 2025. All vessels in the fleet have been designed by Incat Crowther and built by AFAI Southern Shipyard.

 

Photo credit: Incat Crowther
Published: 20 March, 2025

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Biofuel

PRIO delivers Eco Bunkers B30 to two cargo ships at ports in Portugal

Company supplied the bio bunker fuel, a product containing 30% renewable raw materials, to “BBC Lisbon” at Port of Aveiro on 3 March and to “ANNA” at Port of Leixões on 18 March.

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PRIO delivers Eco Bunkers B30 to two cargo ships at ports in Portugal

Biofuels producer PRIO on Wednesday (19 March) said it carried out Eco Bunkers B30 fuel deliveries to shipping company Briese Chartering in collaboration with its partner UFS Unites Fuel Services this month.

On 3 March, PRIO supplied the biofuel to cargo vessel BBC Lisbon at the Port of Aveiro and to another cargo vessel, ANNA, at the Port of Leixões on 18 March. 

“With these two Eco Bunkers B30 deliveries, a product containing 30% renewable raw materials, PRIO enabled Briese Chartering to reduce around 60 tons of CO2 in just two port calls in Portugal,” it said in a social media post. 

“Produced at PRIO’s Aveiro plant, biodiesel has the potential to reduce GHG emissions by approximately 88% compared to fossil fuels.”

“PRIO has been demonstrating its commitment to decarbonising the maritime sector by supplying more sustainable products, ranging from 1% to 100% renewable content.”

Manifold Times previously reported PRIO launching its ECO Bunkers B30 biofuel in partnership with Norwegian Cruise Line Holdings and World Fuel Services.

PRIO previously launched ECO Bunkers B15, a green fuel for ships with 15% biodiesel and the company then launched a 20% biofuel blend, ECO Bunkers E20. 

Related: PRIO launches new 30% advanced biofuel bunker blend, made from waste feedstocks

 

Photo credit: PRIO
Published: 20 March, 2025

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LNG Bunkering

Gasum completes SIMOPS LNG bunkering operation of PCTC “Höegh Sunlight”

Gasum’s LNG bunker vessel “Coralius” made its 920th LNG delivery to “Höegh Sunlight”, a brand new PCTC, with a capacity of 9100 CEU, at the Port of Gothenburg, Sweden on 10 March.

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Gasum completes SIMOPS LNG bunkering operation of PCTC “Höegh Sunlight”

Energy company Gasum on Wednesday (19 March) announced its delivery of liquified natural gas (LNG) to a car carrier during a simultaneous bunkering and cargo operation (SIMOPS) at the Port of Gothenburg, Sweden. 

The company said it was the first ever LNG delivery to Höegh Sunlight at the Logent Car Terminal on 10 March 2025.

Gasum’s LNG bunker vessel Coralius made its 920th LNG delivery to Höegh Sunlight, a brand new Pure Car and Truck Carrier (PCTC), with a capacity of 9100 CEU, during a ship-to-ship (STS) bunkering operation. 

The company did not specify the amount of LNG supplied to the vessel.

The delivery was a collaboration between Gasum, Glander International, Höegh Autoliners, the Port of Gothenburg and Sirius Agency. 

 

Photo credit: Gasum
Published: 20 March, 2025

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