Peninsula plans to start supplying the blends at Gibraltar, Algeciras and nearby ports to start with. File Image / Pixabay
Global marine fuel supplier and trading firm Peninsula is launching the supply of biofuel bunker blends in and around Gibraltar.
The firm has received International Sustainability and Carbon Certification (ISSC) approval to commence biofuel supply, it said in an emailed statement on Monday. Peninsula plans to start supplying the blends at Gibraltar, Algeciras and nearby ports to start with.
"Peninsula's future strategy is to offer bio products in all physical locations where sufficient customer
demand exists," the company said in the statement.
"The group will continue to work closely with the ISCC, relying on its product framework, to ensure that suitable certifications and expertise are available to continue servicing Peninsula's global customer base.
"Peninsula is already at advanced stages of adding additional key biofuels supply locations to its roster."
Biofuels have rapidly gained in prominence in the shipping industry over the past few years as a drop-in replacement for conventional bunkers but with a reduction in net GHG emissions. Their popularity is likely to increase further in the short term, but over the longer term producers may struggle to scale up production sufficiently to meet the shipping industry's demand.