Image Credit: Peninsula

Peninsula is one of the world's largest integrated bunker suppliers active in cargo sales, shipping, barging, derivatives, carbon management and physical supply.

The firm supplied over 20 million mt of bunker volumes in 2025, compared to 18 million mt the previous year and 14.5 million mt in 2023.

Peninsula was founded in 1996 in Gibraltar by John Bassadone to address a gap in local bunker trading services. Taking advantage of its presence close to a refinery in Algeciras, the firm established a strong regional presence, before gradually expanding to a global scale, mainly via back-to-back trading.

The company expanded its physical supply presence in 2012, initially taking on leased tanks and blending its own products in locations including Algeciras/Gibraltar and Panama, before replicating this fully physical model in other worldwide locations.

As of the end of 2025 the company now has a global network of 16 physical supply hubs, representing about 50 ports, as well as a large reselling team arranging bunker trades at more than 500 ports around the world. The company's dedicated cargo procurement department allows it to buy cargoes on a delivered basis or via chartering vessels from its sister company, Hercules Tanker Management, to move product from refineries to its terminals.

Peninsula also has a yacht services team based in Monaco and its own dedicated yacht terminal in Gibraltar.

The firm has also integrated LNG supply and trading into its core business, operating the 12,500 m3 Levante LNG around the Western Mediterranean and performing multiple reselling deals drawing on its specialist LNG team's expertise. A new 18,000 m3 LNG bunkering vessel is due for delivery in 2027.

In late 2024 Peninsula owner John Bassadone launched the above-mentioned Hercules Tanker Management to operate as an independent shipowner active in chartering tonnage and commercial management. Hercules also owns and charters the fleet handling all Peninsula's cargo flows and physical supply operations.

2025 Developments

In June 2025 the company announced an expansion of its US Gulf Coast operations, which are being managed by its Houston physical desk.

In September 2025 the firm announced its latest physical supply operation, joining the Algoa Bay physical market in South Africa in collaboration with local logistics service provider Linsen Nambi. Operations started the following month.

In November 2025 Peninsula took on the 6,500 m3 estuary barge Omega on time charter with Victrol, serving marine fuel customers at Belgian North Sea ports and able to both supply and run on methanol.

Later the same month the company also announced an expansion of its biofuel blending and storage capacity at the Chane Terminal in Rotterdam. The company now has 30,000 m3 of storage capacity in nine tanks at the ISCC-certified facility, with plans to take on an additional eight tanks in early 2026, taking total capacity to 110,000 m3. The new set-up allows Peninsula to blend any biofuel grade from B5 to B100 with full control over the blending process and product quality.