Peninsula, the leading hybrid global marine energy supplier, today 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.
Driving the Next Phase of Maritime Decarbonisation
Ammonia is widely seen as the most reasonable option among zero-carbon marine fuel alternatives, supporting the shipping industry’s transition in line with increasingly stringent regulatory and environmental requirements. The creation of IPMA marks a significant step towards the commercialisation of ammonia as a marine fuel.
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.
Leveraging Combined Strengths
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.
- 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.
A Continuation of Peninsula’s Alternative Fuels Leadership
Peninsula has consistently taken a pragmatic, multi-fuel approach to decarbonisation—recognising that no single solution will meet the industry’s evolving needs. The company continues to invest in infrastructure, vessels and partnerships that enable customers to transition at pace while maintaining operational flexibility.
The IPMA joint venture reinforces Peninsula’s position at the forefront of the energy transition in shipping and demonstrates its commitment to:
- Supporting maritime global decarbonisation objectives
- Developing implementable, commercially viable fuel solutions
- Investing in the infrastructure required to scale next-generation fuels
Positioning for the Future
As the regulatory landscape tightens and demand for low and zero-carbon fuels accelerates, IPMA is designed to act as a catalyst for ammonia adoption—bridging the gap between concept and commercial reality.
By focusing on strategic European ports and leveraging strong industrial partnerships, Peninsula and ITOCHU aim to create a trusted, scalable ammonia bunkering ecosystem, enabling customers to prepare for the next phase of maritime energy transition.
