ITOCHU Announces Joint Establishment of Marine Fuel Ammonia Bunkering Company in Europe Together with Peninsula

ITOCHU Corporation has established a joint venture with global marine fuel supplier Peninsula Petroleum Limited to accelerate the development of ammonia bunkering infrastructure at key European ports as the shipping industry prepares for the adoption of zero-carbon marine fuels.

The new company, I&P Marine Ammonia Ltd. (IPMA), will focus on developing ammonia bunkering services at the ports of Algeciras, Rotterdam and Antwerp-Bruges, positioning these strategic hubs to support the growing deployment of ammonia-fuelled vessels.

Joint Venture Targets European Ammonia Bunkering Market

The formation of IPMA builds on a memorandum of understanding signed by ITOCHU and Peninsula in 2023 to jointly explore the development of an ammonia marine fuel supply business.

The companies said the joint venture is intended to accelerate the establishment of a commercial ammonia bunkering framework in Europe, supporting the maritime industry’s transition toward lower-emission fuels under the International Maritime Organization’s (IMO) decarbonisation objectives.

Ammonia is widely regarded as one of the potential zero-carbon marine fuels capable of helping the shipping sector reduce greenhouse gas emissions, particularly for deep-sea vessels where energy density and long-range capability remain critical.

Building a Global Ammonia Supply Chain

According to ITOCHU, the European initiative forms part of a broader strategy to establish a global ammonia marine fuel supply chain in collaboration with partners across Singapore, Europe, Panama, the Middle East, Japan and other regions.

The company said its integrated approach includes developing and owning ammonia-fuelled bulk carriers and container ships, establishing bunkering hubs, securing ammonia fuel supplies, participating in green ammonia production projects, arranging project financing and working with cargo owners to accelerate market adoption.

Peninsula Brings Global Bunkering Experience

Peninsula Petroleum is an established marine fuel supplier with operations across major global bunkering hubs and an expanding portfolio of alternative fuels, including LNG, bio-LNG and biofuels.

ITOCHU said Peninsula’s experience in marine fuel supply and its global distribution network are expected to support the development of ammonia bunkering infrastructure across Europe’s major ports.

The partners aim to work with additional industry stakeholders to expand ammonia bunkering capabilities as demand for zero-carbon marine fuels grows.

Supporting Maritime Decarbonisation

ITOCHU said the joint venture represents an important milestone in advancing the commercial use of ammonia as a marine fuel and supports its wider efforts to contribute to international shipping decarbonisation through integrated fuel supply and vessel development initiatives. The project also aligns with the company’s medium-term management strategy, which focuses on expanding sustainable business activities and supporting global carbon reduction efforts.