Peninsula and ITOCHU Corporation have launched I&P Marine Ammonia Ltd. (IPMA), a joint venture aimed at developing ammonia bunkering across key European and Mediterranean ports, according to Peninsula.
The new company will focus on building supply options for ammonia as a next-generation zero-carbon marine fuel in major strategic hubs. Peninsula said those ports are important to global maritime logistics and will be central to the wider adoption of alternative fuels.
IPMA follows a memorandum of understanding signed by Peninsula and ITOCHU in September 2023, which set out a framework for the joint development of ammonia bunkering infrastructure and supply chains.
Peninsula said ammonia is among the zero-carbon fuel options being advanced for shipping as regulatory and environmental requirements become tougher. The company said the joint venture is intended to support the commercialisation of ammonia as a marine fuel.
The venture will combine Peninsula’s bunkering operations, global supply network and customer relationships across more than 500 ports with ITOCHU’s fuel production and supply chain development activities.
The partners aim to link upstream supply and infrastructure with customer-facing bunkering operations to deliver ammonia as marine fuel at scale.
Peninsula is a marine energy supplier active in conventional and alternative bunker fuels, including LNG, Bio LNG, biofuels, methanol and ammonia.
ITOCHU Corporation is a Japanese corporation with activities in fuel production and supply chain development, including the ammonia bunkering initiative with Peninsula.