Marine fuel supplier Peninsula is moving to strengthen its biofuel supply capabilities at the Port of Algeciras through a new storage arrangement with terminal operator Evos, according to Ship & Bunker.
The two companies have signed a Memorandum of Understanding (MoU) that could see up to 60,000 m3 of dedicated biofuel storage capacity developed at Evos’ terminal in the Spanish port, Ship & Bunker reports, citing an emailed statement from the companies issued on Wednesday.
Dedicated Capacity for Blending and Quality Control
Under the proposed arrangement, the storage capacity would be reserved exclusively for Peninsula, enabling the company to store and blend biofuels locally in response to shipping demand, according to the report.
John A. Bassadone, CEO of Peninsula, was quoted by Ship & Bunker as saying that biofuel adoption is accelerating due to price volatility in conventional fuels and regulatory drivers such as FuelEU Maritime and the EU Emissions Trading System (EU ETS).
Bassadone said the partnership with Evos would allow Peninsula “to control the quality of product and to blend biofuel ratios according to market demand,” while also giving customers “full flexibility and optionality when lifting bio products.” He added that the project reflects Peninsula’s “active commitment to the decarbonisation of marine fuels,” per the statement reported by Ship & Bunker.
Next Steps for the Project
According to Ship & Bunker, Evos will handle the engineering, permitting, and construction work required for the proposed expansion. The two companies are now set to work toward a long-term storage and handling agreement.
The report notes that the project remains subject to a final investment decision by Evos, meaning the storage facility is not yet confirmed to proceed.
Does This Matter to You?
This development is relevant to parties tracking the availability of marine biofuels along key Mediterranean bunkering routes. Algeciras is a major bunkering hub, and expanded dedicated storage capacity could support more consistent biofuel supply and blending options in the region as demand grows under regulatory frameworks like FuelEU Maritime and EU ETS.
As the source material notes, the project is still at an early stage pending Evos’ final investment decision, so any change in physical biofuel availability at the port is not yet confirmed. Those monitoring bunker fuel supply infrastructure, biofuel blending capacity, or compliance-driven fuel demand in the EMEA region may wish to follow further updates on this MoU.
Gulf Bunkering does not provide operational or security guidance. This article is for informational purposes only. Operators should consult flag state authorities, P&I clubs, and relevant advisories for decisions relating to transit planning.
Sources: Ship & Bunker
