Peninsula, a leading marine energy supplier, has announced its strategic expansion into the Houston area, marking a significant milestone in its global physical supply operations. The company’s re-entry into this key market is set to bolster its hybrid business model, which combines physical supply capabilities with a robust reselling portfolio, ensuring enhanced options and quality for customers worldwide.
The Houston-based team will be led by industry veterans Mike Parrent, joining as Physical Desk Manager, and Elisha Frank, as Operations Executive. Both bring extensive experience and a proven track record in delivering exceptional service to the global maritime community. Full operations are expected to commence in December 2024.
Houston Ship Channel Area: A Critical Hub in the Bunkering Landscape
The Houston Ship Channel complex and its more than 200 private and eight public terminals, collectively known as the Port of Houston, is the nation’s largest port for waterborne tonnage and an essential economic engine for the Houston region, the state of Texas, and the U.S. A 2022 study by Martin Associates reports that business activity at the Port of Houston supports 1.54M jobs throughout the state of Texas and 3.37M jobs nationwide. This activity helps generate more than $439B in statewide economic value and $906B in nationwide economic value. Moreover, the Houston Ship Channel contributes nearly $10.6B in state and local tax revenue and $62.8B in national tax revenue.
The city’s significance in marine fuel supply is underscored by its diverse energy infrastructure, which includes refineries producing Very Low Sulfur Fuel Oil (VLSFO), Marine Gas Oil (MGO), and other clean fuels.
Peninsula’s Strategic Vision
John A. Bassadone, CEO of Peninsula, expressed enthusiasm about the company’s return to Houston “We’re delighted to be back in the Houston area, offering fresh regional supply options. It’s testament to Peninsula’s hybrid business model that we can work physical business alongside our reselling portfolio to optimise choice and quality for our global customer base.”
By re-establishing operations in Houston, Peninsula aims to leverage its global expertise to cater to the dynamic requirements of this high-volume market. The local team’s leadership will focus on streamlining operations and maintaining the company’s reputation for excellence in service delivery.
Physical Desk Manager Mike Parrent highlighted the value this move brings to Peninsula’s customers “Elisha and I are excited to get regional physical supply flowing. The combination of Peninsula’s global scale and customer reach, combined with our expertise and insight, will bring significant value. We’re confident that customers will put their trust in this formula and we’re proud to join Peninsula as the business continues to thrive and expand.”
Enhancing Supply Chain Resilience
Peninsula’s expansion into Houston will provide shipping operators with a reliable partner in a highly competitive market. The initiative is aligned with broader industry trends toward cleaner marine fuels and enhanced supply chain resilience. Houston’s extensive port infrastructure, coupled with Peninsula’s expertise, positions the company to meet growing customer demand efficiently and sustainably.
The return to Houston represents not only an expansion of Peninsula’s physical footprint but also a commitment to serving the evolving needs of the global shipping industry in one of its most pivotal regions.
Peninsula in Brief
Peninsula is a global leader in the supply of marine fuels, delivering energy solutions from multiple physical supply stations and a comprehensive global trading network. With offices and operations in all major world ports, Peninsula conducts over 25,000 deliveries annually, serving over 2,000 customers worldwide.
As a trusted partner in the marine energy sector, Peninsula is known for its transparency and low-risk tolerance, which has earned it the support of a wide range of stakeholders. Peninsula is also a strong advocate for maritime decarbonization and supports the global journey toward net zero by 2050. The company introduced LNG bunkering into its product range in 2021 and continues to explore the viability of alternative fuel options to keep the global fleet moving.
This expansion into Houston Area marks a significant step forward for Peninsula, reinforcing its commitment to providing tailored energy solutions and further establishing its leadership in the bunkering market in the U.S. and beyond.
Source Peninsula 360