The JV will focus on ammonia bunkering marketing and fuel trading. File Image / Pixabay
The European Commission (EC) has approved the creation of a joint venture between Japan’s Itochu Corporation and marine fuels supplier Peninsula for ammonia bunkering.
The partnership will focus on marketing services for ammonia bunkering supply operations and the trading of ammonia as a marine fuel, EC said in an update on its website on Thursday.
The EC said the transaction does not raise competition concerns, citing the venture’s negligible activities in the European Economic Area and the companies’ limited combined market position.
The deal was assessed under the EU’s simplified merger review procedure.
Ammonia is widely seen as a potential marine fuel to support the decarbonisation of shipping, but its high toxicity remains a key safety concern around handling, storage and bunkering.
Ship & Bunker News Team
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