Business

Spain: Itochu, Peninsula enter MOU for joint development of ammonia bunkering in Gibraltar Strait

‘Itochu aims to establish a global supply chain by promoting the joint development of an ammonia bunkering in Algeciras, Spain,’ explains company.

Published

3 years ago

September 25, 2023

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Tokyo-based Itochu Corporation on Friday (22 September) executed a Memorandum of Understanding (MOU) with marine fuels supplier Peninsula Petroleum (Peninsula) on the joint development of ammonia bunkering in Spain.

Ammonia is advancing as a key zero-emission marine fuel solution and it will greatly contribute to Greenhouse Gas (GHG) emissions reduction if ammonia can be commonly used as a marine fuel, stated Itochu.

“This MOU is an important milestone for social implementation of the use of ammonia as marine fuel on a global scale, and also a necessary step toward the realisation of the Integrated Project consisting of the construction of a global ammonia supply chain and the development of ammonia-fuelled ships by Itochu and its partner companies,” it said.

“Itochu aims to establish a global supply chain by promoting the joint development of an ammonia bunkering in Algeciras, Spain, where is located in Gibraltar Strait and is also a strategic location for international logistics, together with Peninsula and future partners.

“Peninsula is one of the leading companies in the alternative marine fuels including LNG and biofuels, and has a strong foothold and relationship with key stakeholders across the Mediterranean, including the Port of Algeciras. Peninsula’s active investment, involvement in and understanding of alternative fuels will contribute the development of ammonia bunkering hub in Algeciras, Spain.”

Manifold Times in 2021 reported an Itochu-led joint study framework discussing common issues in pursuit of the utilisation of ammonia as an alternative marine fuel expanding to 34 players.

Photo credit: Scott Graham
Published: 25 September, 2023

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Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Following the successful deployment of “ONE Singapore” and its sister vessels, “ONE Solidarity” will be deployed on the Mediterranean Pacific South 2 (MS2) service.

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Singapore-based ONE celebrates maiden voyage of methanol-and-ammonia ready boxship

Singapore-based container shipping company Ocean Network Express (ONE) on Thursday (3 July) said it celebrated the maiden voyage of containership ONE Solidarity as the ship made its first-ever arrival in Shekou, China.

“As one of our S-series methanol and ammonia ready container vessels, ONE Solidarity is another demonstration of ONE’s commitment to sustainable shipping,” the company said in a social media post.

Following the successful deployment of ONE Singapore and its sister vessels, ONE Solidarity will be deployed on the Mediterranean Pacific South 2 (MS2) service.

“Her deployment will boost our service capacity, ensuring faster, more reliable, and highly efficient shipping offerings across key global trade lanes,” the company added.

Photo credit: Ocean Network Express
Published: 3 July, 2026

Alternative Fuels

“Lucia Cosulich” enters final preparation ahead of bunkering operations

Following delivery of the ship in China, it will now enter the final preparation phase ahead of its next operational steps, strengthening Fratelli Cosulich’s ability to provide reliable bunkering solutions.

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July 3, 2026

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“Lucia Cosulich” enters final preparation ahead of bunkering operations

Fratelli Cosulich Marine Energy on Thursday (2 July) celebrated the delivery of Lucia Cosulich at Taizhou Maple Leaf Shipyard in China.

The vessel is the second of four sister methanol-ready IMO II bunker tankers developed within the Group’s fleet expansion programme and follows the launching ceremony held on 2 May 2026.

Designed to support the Group’s bunkering operations and future fuel requirements, Lucia Cosulich is part of the new generation of vessels developed by Fratelli Cosulich Marine Energy to combine operational reliability, safety and fuel flexibility.

Lucia Cosulich will now enter the final preparation phase ahead of its next operational steps, further strengthening the Group’s ability to provide reliable bunkering solutions.

“We wish Lucia Cosulich and her crew fair winds on the next stage of her journey,” the company said.

Photo credit: Fratelli Cosulich
Published: 3 July, 2026

Business

Glencore backs FincoEnergies’ biofuel growth with majority stake acquisition

With Glencore’s support, FincoEnergies is well positioned to continue expanding its offerings in biofuels across multiple transport segments and to increase its presence in new geographies.

Published

2 days ago

July 3, 2026

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Dutch biofuel supplier FincoEnergies on Thursday (2 July) announced the completion of global commodities trader Glencore’s acquisition of a majority stake in the company, forming a partnership with Coloured Finches.

FincoEnergies said its fuel distribution and logistics infrastructure, customer relationships and expertise in downstream fuel transportation will be complemented by Glencore’s global scale, sourcing capabilities and experience across the energy value chain.

With Glencore’s support, FincoEnergies added it is well positioned to continue expanding its offerings in biofuels and decarbonisation solutions across multiple transport segments and to increase its presence in new geographies.

Jan-Willem van der Velden, FincoEnergies CEO and Founder, said: “Today marks an exciting next step for FincoEnergies. Glencore already knows our business well, and this builds on years of collaboration, trust and shared ambition. With Glencore’s support and global reach behind us, we are in a strong position to continue growing our business and supporting our customers as demand for lower-carbon fuel solutions continues to evolve.”

Maxim Kolupaev, Head of Glencore Energy UK, said: “Glencore’s investment in FincoEnergies strengthens the presence of our business in Northwest Europe and creates a strong platform for future growth. We are looking forward to continuing to work closely with the FincoEnergies team and building on the successful relationship we have already developed together.”

Manifold Times previously reported FincoEnergies signing an agreement with Glencore for the acquisition of a majority shareholding in the FincoEnergies Group in a partnership with Coloured Finches.

Photo credit: FincoEnergies
Published: 3 July, 2026