Posted on October 7, 2024
John Bassadone-led Hercules Tanker Management (HTM) is set to expand its fleet with chemical tanker newbuilds scheduled to start delivering in the second half of 2025.
The company, officially launched by Bassadone last month, has revealed the order for four 7,700 dwt IMO II units at Jiangmen Hangtong Shipyard in China.
The vessels will be delivered at three-month intervals and will be time-chartered to Bassadone’s Peninsula as part of the Gibraltar-based bunker group’s “fleet modernisation programme”.
“The partnership between HTM and Peninsula allows us to build ships which cater for customer needs, thus de-risking construction whilst maintaining full flexibility. This model ensures our assets optimise efficiency and remain relevant,” said Bassadone, founder and CEO of both Peninsula and HTM.
The newbuilds, described as “ultra-spec”, will be fit to supply methanol as well as 100% biofuel and feature diesel-electric and battery-ready power units that reduce emissions by around 20% compared to other conventional product tankers, the company said.
“It was perhaps perceived as a risk when HTM was first-to-market with these orders over 2 years ago, but we always had the confidence, driven by Peninsula’s global customer reach, that these ships have an important future role to play in alternative fuel supply,” Bassadone added.
HTM’s managed fleet comprises over 40 vessels ranging from conventional bunker barges to product carriers. The company also recently ordered a pair of 18,000 cu m LNG bunker vessels at HD Hyundai Mipo in South Korea.
