Peninsula and Japan's Itochu Corporation have established a joint venture, I&P Marine Ammonia Ltd (IPMA), aimed at developing ammonia marine fuel bunkering infrastructure across European ports.

The venture builds on a memorandum of understanding (MoU) signed between the two companies in September 2023, which set out a framework for the joint development of ammonia bunkering infrastructure and supply chains.

According to Peninsula, IPMA has been created to promote the supply of ammonia as a zero-carbon marine fuel, with an initial focus on European and Mediterranean port hubs — locations it describes as critical to global maritime logistics, and which will play a central role in the adoption of alternative fuels at scale.

Peninsula stated: "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, which operates across more than 500 ports and has established capabilities in LNG, bio-LNG, biofuels, methanol and ammonia, explained that the joint venture represents a progression of its multi-fuel strategy to provide "practical, scalable decarbonisation pathways" for customers, with Itochu bringing an integrated approach to the partnership, spanning fuel production and supply chain development.

Together, the companies aim to develop an ammonia bunkering framework that pairs upstream supply and infrastructure with customer-facing distribution capabilities.

“IPMA is designed to act as a catalyst for ammonia adoption — bridging the gap between concept and commercial reality,” Peninsula said, adding that the venture is intended to complement broader industry initiatives already under way in the region.

The formation of IPMA comes as regulatory pressure on the shipping sector intensifies, with the International Maritime Organization having set revised greenhouse gas reduction targets that are driving demand for low- and zero-carbon fuels. Peninsula said it continues to invest in infrastructure, vessels and partnerships to enable customers to transition while maintaining operational flexibility.

"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," Peninsula added.