Peninsula, the global leader in the marine fuels industry, has announced a major advancement in its LNG bunkering operations through its newly launched subsidiary, Hercules Tanker Management (HTM). HTM, tasked with overseeing vessels management, has signed an agreement with Hyundai Mipo Dockyard Co., Ltd. for the construction of a new 18,000-cbm Liquefied Natural Gas Bunkering Vessel (LNGBV). This vessel will be operated by Peninsula, reinforcing its commitment to providing cleaner marine fuel solutions.
The new LNGBV is expected to be delivered in 2027 and will play a crucial role in Peninsula’s expanding LNG supply capabilities. This development aligns with the company’s strategic focus on supporting the maritime industry’s transition to lower-emission fuels and meeting the growing demand for cleaner energy solutions.
Supporting Decarbonization Goals
Peninsula’s investment in this state-of-the-art LNG bunkering vessel reflects its dedication to advancing the maritime industry’s decarbonization efforts. LNG is recognized as a key transitional fuel in reducing the carbon footprint of shipping, offering a practical and commercially viable solution for cleaner marine operations.
“In line with our commitment to supporting the maritime industry’s decarbonization goals, we are excited to announce the order of an 18,000-cbm LNG bunkering vessel, which will be operated by Peninsula,” Peninsula commented, “LNG, as a lower-emission fuel, plays a vital role in this transition. Our investment in this new vessel strengthens our position to meet the growing demand for cleaner energy and support our customers in navigating the energy transition.”
Fleet Modernization and Expansion
The construction of the new LNGBV is a significant step in Peninsula’s fleet modernization strategy. By adding this new vessel to its operations, Peninsula aims to enhance its capability to deliver LNG bunkering services and continue its leadership in providing sustainable fuel solutions.
“We are proud to announce the next step in our fleet modernization with the signing of an agreement to construct an 18,000-cbm LNGBV at Hyundai Mipo Dockyard, this vessel is part of our ongoing process to add newer tonnage to our expanding pool of vessels, ensuring we are well-positioned to meet the future energy needs of our clients.”
A Best-in-Class Partnership
The collaboration with Hyundai Mipo Dockyard, renowned for its expertise in LNG bunkering vessel construction, ensures that the new LNGBV will be built to the highest industry standards. The close partnership between Peninsula’s technical team and Hyundai Mipo is set to deliver a best-in-class vessel that will optimize LNG bunkering solutions for global shipping.
“The close working partnership between our own technical experts and Hyundai Mipo, a leader in LNG bunkering vessel construction, will result in a top-tier ship designed to deliver optimal solutions for the maritime industry.”
LNG as a Key Marine Fuel for the Future
Liquefied Natural Gas (LNG) is increasingly recognized as a crucial component of the maritime industry’s efforts to reduce greenhouse gas emissions. LNG can cut carbon dioxide emissions by up to 25% compared to traditional marine fuels and significantly lower sulfur oxides, nitrogen oxides, and particulate matter. This makes LNG a key transitional fuel as the industry moves towards zero-carbon technologies.
Through its investment in this new LNG bunkering vessel, Peninsula continues to lead the way in supporting the transition to cleaner marine fuels, ensuring that its operations and those of its clients remain at the forefront of sustainability and regulatory compliance.
Hercules Tanker Management (HTM) in Brief
Hercules Tanker Management (HTM) is a leading tanker owner with a global presence, providing top-tier commercial management services to some of the world’s most prestigious charterers. HTM’s managed fleet consists of over 40 vessels, ranging from conventional bunker barges to deep-sea product carriers, reflecting the company’s broad operational reach and diverse service offering.
With professionalism and safety as core values, HTM strives to deliver market-leading commercial management services to its blue-chip partners. The company’s role as an owner, charterer, and manager of vessels positions HTM as a prominent player in the global freight market.
HTM’s roots in the bunkering industry, with nearly 30 years of experience as a global physical supplier and reseller, have endowed the company with a deep understanding of the shipping and freight sectors. This legacy forms the foundation of HTM’s mission to be a leading freight trader in the market.
Hercules Tanker Management believes that “Shipping Matters. Energy Matters. Hercules Matters.” This guiding principle drives the company’s commitment to excellence in tanker management and freight trading.
As HTM continues to expand its fleet and services, the company remains dedicated to providing operational flexibility, environmental efficiency, and a superior level of service to its partners worldwide.
About Peninsula
Peninsula is a leading global provider of marine fuel solutions, committed to advancing the decarbonization of the maritime industry. With a focus on sustainable fuel options, including LNG, Peninsula invests in innovative solutions to meet the growing demand for cleaner energy in shipping. The company’s newly launched subsidiary, Hercules Tanker Management, will operate the new LNG bunkering vessel, enhancing Peninsula’s capability to deliver high-quality, environmentally responsible marine fuel solutions worldwide.
Source Peninsula