In accordance with the International Maritime Organisation’s (IMO) 0.50% global sulphur cap, which became effective on 1 January 2020, the majority of our marine fuel supply is now very low sulphur fuel oil (VLSFO), which we began global supply of as early as July 2019. This marked a major change to the marine fuel environment.
To ensure quality control and allay customer concerns, Peninsula’s operations, logistics and supply chain control allow the purchase of products and components for the production and delivery of compliant fuels well within ISO 8217:2017 specifications. We have implemented quality controls in our supply chain by means of intensive sampling and testing beyond industry best practices.
As quality is a continuous process, we continue to monitor and improve our standards where and when needed to ensure we successfully adapt to the future needs of our customers.
Peninsula is always monitoring the future of our industry and is strongly committed to reducing shipping emissions and providing cleaner air in line with the short and long-term IMO roadmap, as well as local legislation on emissions.
2023 IMO Strategy on Reduction of GHG Emissions from Ships includes ensuring achieving a reduction in the carbon intensity of international shipping by at least 40% by 2030 and a significant further reduction in carbon intensity to achieve the 2050 level of ambition – to reach net-zero GHG emissions by or around, i.e. close to, 2050. Peninsula is committed to have alternative fuel options available to help the industry to meet IMO’s ambitions, and we are exploring carbon neutral or zero carbon fuels.
