Peninsula and ITOCHU establish joint venture to advance ammonia bunkering in Europe

Leading hybrid global marine energy supplier Peninsula announces the establishment of I&P Marine Ammonia Ltd. (IPMA), a joint venture with ITOCHU Corporation, to accelerate the development of ammonia marine fuel bunkering across key European ports.

IPMA has been created to promote the supply of ammonia as a next-generation zero carbon marine fuel, with an initial focus on major strategic European and Mediterranean hubs. These locations represent critical regions in global maritime logistics and will play a central role in enabling the adoption of alternative fuels at scale.

The formation of IPMA builds directly on the Memorandum of Understanding (MoU) signed between Peninsula and ITOCHU in September 2023, which established a framework for the joint development of ammonia bunkering infrastructure and supply chains.

Peninsula has played a leading role in advancing the alternative fuels landscape, with established capabilities across LNG, Bio LNG, biofuels and other alternative solutions such as methanol and ammonia. This joint venture represents a natural progression of the company’s strategy to provide customers with practical, scalable decarbonisation pathways.

The partnership combines Peninsula’s global bunkering expertise, an established global supply network and deep customer relationships covering over 500 ports across all major bunkering hubs, with ITOCHU’s integrated approach, spanning fuel production and supply chain development.

Together, Itochu and Peninsula will combine these strengths to develop a robust ammonia bunkering framework, pairing upstream supply and infrastructure with the customer-facing expertise required to deliver ammonia as bunker fuel reliably at scale.

With an initial focus on Europe, IPMA is well positioned to accelerate the emergence of an operational ammonia marine fuel supply chain, complementing and reinforcing the broader industry initiatives already underway across the region.