EMEA News
Peninsula Launches South Africa Physical Supply Collaboration
Global marine fuel supplier and trading firm Peninsula is set to launch a new physical supply operation in South Africa.
The firm has established its new Algoa Bay operation in collaboration with local logistics and bunker barge company Linsen Nambi, it said in an emailed statement on Tuesday.
The operation will launch in October, delivering HSFO and VLSFO.
"Our expansion into Algoa Bay is testament to our commitment to providing consistent product availability and optionality to our global customer network," John Bassadone, CEO of Peninsula, said in the statement.
"Linsen Nambi's local expertise has been invaluable as we prepare to launch the operations, and we look forward to continued collaboration that paves the way for increased activity in South Africa."
Bunker supply at Algoa Bay was all but shut down from September 2023 onwards following a dispute between suppliers and the local authorities over customs regulations. Supply has resumed since early this year, but on a small scale while international players have largely refrained from returning to this market.
South Africa's bunker market is in a strong position to benefit from shipping companies rerouting vessels to avoid the Red Sea and Suez Canal amid attacks on commercial shipping from Yemen's Houthi movement, if the local regulatory dispute can be resolved to the satisfaction of international suppliers.
