In Spain, ITOCHU Corporation has executed a Memorandum of Understanding with the marine fuels supplier, Peninsula Petroleum S.L on the joint development of ammonia bunkering in Spain.
This MOU is an important milestone for social implementation of the use of ammonia as marine fuel on a global scale, and also a necessary step toward the realization of the Integrated Project consisting of the construction of a global ammonia supply chain and the development of ammonia-fueled ships by ITOCHU and its partner companies.
ITOCHU aims to establish a global supply chain by promoting the joint development of an ammonia bunkering in Algeciras, Spain, where is located in Gibraltar Strait and is also a strategic location for international logistics, together with Peninsula and future partners. Peninsula is one of the leading companies in the alternative marine fuels including LNG and biofuels, and has a strong foothold and relationship with key stakeholders across the Mediterranean, including the Port of Algeciras. Peninsula’s active investment, involvement in and understanding of alternative fuels will contribute the development of ammonia bunkering hub in Algeciras, Spain.
