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LONDON, Nov 12 (Reuters)– Marine gas vendor Peninsula Petroleum stated on Tuesday it intends to increase distributions of extremely low-sulphur gas oil (VLSFO) to 600,000 tonnes by the year-end, right before brand-new delivery regulations work around the world to limit sulphur discharges.

“To date we have delivered 300,000 tonnes of VLSFO in our physical supply ports of Gibraltar, Algeciras, Barcelona, Amsterdam-Rotterdam-Antwerp, Canary Islands, Malta, Panama, U.S. Gulf Coast and Los Angeles,” CHIEF EXECUTIVE OFFICER John A. Bassadone stated.

From the beginning of 2020 the United Nations’ International Maritime Organization will certainly call for that all ships utilize gas with sulphur web content restricted at 0.5%, compared to 3.5% presently, unless they have actually sulphur-cleaning packages called scrubbers.

Peninsula, in a press release, additionally stated it had actually boosted its storage space ability to 400,000 tonnes in Europe and also 370,000 tonnes throughout the Americas.

The business just recently obtained its initial Panamax vessel, which it stated it would certainly utilize for gas acquisitions, drifting storage space and also freight transhipments. It additionally stated it had actually increased its worldwide fleet of greater than 30 had and also hired vessels with 7 extra item vessels.

(Reporting by Ahmad Ghaddar and also Roslan Khasawneh; Editing by Dale Hudson)

( c) Copyright Thomson Reuters 2019.