Americas News
Peninsula Petroleum to Launch New Physical Bunker Supply Operation in Los Angeles & Long Beach
Peninsula Petroleum is launching a new physical bunker supply operation in Los Angeles / Long Beach, the company has confirmed to Ship & Bunker.
With the initial stage of the move underway, the company says it is "a logical next step in Peninsula's development adding value to both regional supply partners and global clients."
The new operation is expected to become fully active by January 2018 following a gradual implementation process during Q4 2017, and will include a dedicated barge fleet along with a "strategic storage facility". It will be managed by an existing team headquartered in Houston.
"Entry into Los Angeles / Long Beach is yet another step towards executing our strategic plan for expansion of our physical supply network," said John Bassadone, CEO of Peninsula.
"We are confident that the operation will be a success and that it should be seen in a wider context: Peninsula Petroleum provides global solutions to both our clients and supply partners."
The new operation becomes Peninsula's seventh physical hub, and joins the existing physical supply operations that include the Gibraltar Strait, Panama, Houston, ARA, and Singapore.
"A major reason for selecting Los Angeles / Long Beach as Peninsula's next expansion area is its importance as an operations hub for a large number of core global clients. This new supply position means Peninsula can better add value to its clients when and where needed," the company said in an emailed statement.
"Physical capability in Los Angeles / Long Beach strengthens a regionally integrated supply solution on the Pacific Coast connecting with the long established and successful Panama operation. Peninsula will build on its existing relationshipswith West Coast refineries seeking mutual benefit.
"Los Angeles / Long Beach is Peninsula's seventh physical hub meaning it is now supplying in seven of the world's top 10 bunkering markets. In addition it is Peninsula's sixth global storage position and the third in the US adding to existing capacity in Houston and New Orleans."
