Home > Press Release > Peninsula inks new storage agreement in Houston with HOFTI.

Press Releases

Peninsula inks new storage agreement in Houston with HOFTI.

16 November 2017

Peninsula is pleased to announce a new storage agreement with the Houston Fuel Oil Terminal (HOFTI), which started in October-17 to support the company’s bunkering operations in Houston and surrounding ports.

This is the latest step in Peninsula’s strategy of converting its remaining light physical operations (barging logistics) into a full physical model (barging plus storage logistics) in the Americas. This follows recent agreements in New Orleans, Los Angeles / Long Beach and Cristobal, Panama.

Moving into HOFTI means presence in one of the busiest fuel oil terminals in the world, enabling Peninsula to source product directly from the local Platts MOC, one of the main keys to maintain a long term competitive and reliable supply structure.

The move is also a starting point for storing Peninsula owned blending components that will eventually enhance the group’s operations in the region.

Finally, this agreement includes the capability to supply bunkers ex-pipe for those ships calling at the terminal. This creates value for our global customers who avoid the downtime of moving to anchorage areas to take bunkers by barge.

Alex Lyra, Global Head of Supply & Trading commented, “Growing our global portfolio of storage positions into HOFTI 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.

About Peninsula Petroleum

Peninsula Petroleum is the leading integrated global bunker supplier. Over 20 years, Peninsula has earned the trust of both end user clients and its international supplier network. Peninsula has built a truly global operation, connecting its understanding of cargo markets and the dynamics of global supply with the needs of the marine industry.

Peninsula combines physical supply capabilities with a global reselling platform to guarantee optimum delivery solutions. Physical supply locations include Panama, Houston, New Orleans, Los Angeles / Long Beach, Gibraltar Strait, Barcelona, Malaga, ARA ports and Singapore.

Peninsula’s global sales network stretches across 20 offices and is supported by world class risk management, analysis and hedging teams, ensuring that upstream partners, downstream clients and funding providers have full peace of mind. It is this conservative approach to trading that defines Peninsula’s successful growth strategy.

Contacts
Paddy Blewer, Head of Communications
+44 207 766 4002 / +44 7917 205985 / [email protected]