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Peninsula has announced that it has established a physical supply operation in Suez.

In a statement issued today (7 June), the company said it plans to offer very low sulphur fuel oil (VLSFO), high sulphur fuel oil (HSFO) 3.5% and low sulphur marine gasoil (LSMGO).

Peninsula said it had been selected by the local authorities to be given a licence to function as a bunker supplier in February 2022. The new Suez operation is expected to support the company’s existing physical supply hubs.

‘We want to thank all the authorities and especially the Egyptian Government for this opportunity to operate in the Suez Canal,’ said John A. Bassadone, CEO of Peninsula. ‘We have been working closely with them for over a year and a half to ensure that we are in a position to build the local bunker market beyond historical levels.

‘Port Said’s has huge potential for growth, and we feel that our track record and dedication to quality, along with our growing network in the region, will create an attractive proposition,’ added Bassadone.

As previously reported, last week, Minerva Bunkering announced it had begun physical supply operations at the key Egyptian waterway and other ports in the country.

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