{
  "id": 191210,
  "title": "Peninsula and Evos Sign MOU to Develop Biofuel Storage Infrastructure in the Port of Algeciras",
  "url": "https://urgent.news/2026/08/05/peninsula-and-evos-sign-mou-to-develop-biofuel-storage-infrastructure",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-05T21:00:33.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/peninsula-and-evos-sign-mou-to-develop-biofuel-storage-infrastructure-in-the-port-of-algeciras/"
  },
  "original_language": "en",
  "account": "Peninsula, a global leader in hybrid marine fuels, and Evos, a European independent storage company, have signed a Memorandum of Understanding (MOU) to jointly develop dedicated biofuel storage capacity at Evos' terminal in the Port of Algeciras. The proposed expansion would create up to 60,000 cubic meters of storage capacity, entirely dedicated to Peninsula to bolster its biofuels supply chain in the region.\n\nSituated at the Strait of Gibraltar, one of the world's busiest maritime corridors, the Algeciras project aims to bolster infrastructure for the energy transition in shipping, providing specialized storage and handling capacity for low-carbon marine fuels. This will reinforce Peninsula's quality proposition by enabling control over its supply chain.\n\nJohn A. Bassadone, Peninsula's founder and CEO, emphasized the increasing adoption of biofuels due to fuel volatility and regulatory measures like FuelEU and EU ETS. He stated that the partnership with Evos would allow Peninsula to ensure product quality, blend biofuel ratios according to market demand, and offer customers full flexibility in lifting bio products.\n\nUnder the MOU, Peninsula and Evos will engage in technical and commercial discussions on a long-term storage and handling agreement, contingent upon Evos' final investment decision. Evos will spearhead project development at the Algeciras terminal, encompassing engineering, permitting, and construction, while Peninsula will integrate the capacity into its expanding global biofuels supply network.\n\nDaan Vos, CEO of Evos, noted that Algeciras is already a crucial bunker and trading hub with significant relevance to global shipping and inter-Mediterranean trade. The expansion project, in collaboration with a strategic partner like Peninsula, would fortify Evos' position as a bunker fuel storage terminal in the port. By developing marine biofuels infrastructure, Evos could adapt to evolving bunker market demands and reinforce Algeciras' role in the low-carbon shipping transition.",
  "summary": "Peninsula, the world’s leading hybrid marine fuels supplier, and Evos, a European independent liquid energy and chemicals storage company, have signed a Memorandum of Understanding (MOU) to jointly progress the development of dedicated biofuel storage infrastructure at Evos’ terminal in the Port of Algeciras. The proposed Evos expansion includes plans to develop up to 60,000 ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}