Peninsula Petroleum has reached a new storage agreement with the Houston Fuel Oil Terminal to support its bunkering operations in the region.
The company says this is the latest step in its strategy of converting its remaining light physical operations into a full physical model (barging plus storage logistics) in the Americas.
Moving into the terminal means presence in one of the busiest fuel oil terminals globally, enabling Peninsula to source product directly from the local Platts MOC, one of the main keys to maintaining a long-term competitive and reliable supply structure.
The agreement includes the capability to supply bunkers ex-pipe for those ships calling at the terminal.
Alex Lyra, global head of supply and trading, says: ‘Growing our global portfolio of storage positions into the terminal is not only an important step towards further consolidating our local bunkering operation but also a key element for the integration of the group’s regional physical footprint, both on the Atlantic and Pacific coasts.’