Peninsula tied to a pair of LNG bunker newbuilds
Peninsula Linked to New LNG Bunker Vessel Orders in South Korea
Fuel supplier Peninsula is reportedly connected to two new LNG bunker vessels being built in South Korea. According to industry sources, the Gibraltar-based company is believed to be behind an order for 18,000 cu m ships at HD Hyundai Mipo, announced on Thursday. These vessels are expected to cost approximately $93 million each and are slated for delivery by November 2027.
Peninsula, which launched its LNG bunkering operations in 2021, has continued to expand in the sector. Its first newbuild project was a collaboration with Scale Gas, a subsidiary of Spanish utility company Enagás. This partnership produced the 12,500 cu m Levante LNG, built by HD Hyundai Mipo, which was delivered in July 2023.
The Levante LNG has been operating under a seven-year charter with Peninsula, serving key ports in the Strait of Gibraltar and the Western Mediterranean. With the new vessel orders, Peninsula appears to be strengthening its presence in the LNG bunkering market, further solidifying its role in the transition to cleaner marine fuel options.
