I have great news for you. :)
A 24 years old single man called Pedro Penalba Agueda arrived in Buenos Aires on 1930/03/18. The ship was "Conte Rosso".
You can run the search here: <
Note that the last name appears as "Penalba", not Ñ but N. This could be an error when he arrived, or an electronic misspelling when loading the information to the current database.
In my experience, some of the first electronic databases did not support the character ñ/Ñ. On future searches keep that in mind and try both "Peñalba" and "Penalba", just in case.
Also, note that in Argentina we tend to suppress the second last name, so if you try to locate him on other documents he could appear registered just as "Pedro Peñalba" or "Pedro Penalba".