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London-headquartered bunker supplier and trader Peninsula Petroleum Ltd. has launched its new office in Tokyo.

The new operation is headed by former PetroChina Co. fuel oil trader Kazushi (Kevin) Fujisawa.

Fujisawa was previously employed with Nippon Oil Corp. and Itochu Corp.’s trading business for approximately 18 years before joining PetroChina in April 2010.

As trading manager, he will be responsible for marine fuel sales in Japan and South Korea, where the company is understood to be targeting annual sales of 1 million tonnes.

Fujisawa has been joined by Kazuto Ishida, a former bunker trader at Hanwa Co..

Peninsula enters the North Asia bunker market at a time when Petrochina looks set to increase sales of cheaper product from Venezuela, potentially squeezing the margins of Japanese refiners.

Commenting on the new Tokyo office, Peninsula said: "Working hand-in-hand with the already established offices in Singapore and Shanghai, the addition of Tokyo provides comprehensive cover of the entire Asia Pacific region. Tokyo primarily handles a portfolio of Japanese customers and has a wider remit to work with clients throughout North East Asia, including South Korea."

The Tokyo office is Peninsula's third in Far East Asia and eleventh worldwide, with the company following in the footsteps of other foreign bunker companies World Fuel Services, OceanConnect and International Bunker Services K.K. to have launched operations in the Japanese market.

Peninsula Petroleum commenced supply operations in Ceuta and Las Palmas in 1999 and became a physical supplier in Panama in 2002.

The company began worldwide trading in 2001 and has since launched offices in Athens (2005), Singapore (2006), Dubai (2007), Shanghai (2007), Geneva (2008), Montevideo (2009) and Tønsberg (2010). Peninsula also has offices in Gibraltar and Dublin.

Peninsula is currently estimated to have annual bunker sales of over 5 million tonnes. The figure is projected to reach 6 million tonnnes in 2010.

It is understood that Peninsula is also looking to increase its profile in the North American market with the launch of an office in New York.

Please find contact details below for Kevin Fujisawa and the new Tokyo office.

Kevin Fujisawa, Trading Manager
Mobile +81 90 4019 9025

Peninsula Petroleum Ltd (Tokyo branch)
2-3, Marunouchi 2-chome
Chiyoda-ku, Tokyo

E-mail: tokyo@peninsulapetroleum.com