The Gibraltar Naval Bunkering Company Peninsula established the joint venture I&P Marine Ammonia Ltd. (IPMA) with the Japanese group Itochu Corporation with the aim of expand the supply of ammonia as a ship fuel to European ports. The establishment of the new company follows the agreement signed in September 2023 by the partner and the Japanese one for the supply of ammonia in the Spanish ports.

The partnership is based on the experience of the Peninsula in the bunkering sector, with a network covering over 500 ports, and fuel production and supply chain development related to Itochu. The new joint venture has been created with the aim of responding to the growing demand for fuels zero carbon emissions determined by the new European standards and for the decarbonisation of the maritime sector.