John A. Bassadone, the dynamic Founder and CEO of both Peninsula and Hercules Tanker Management (HTM), has once again demonstrated his forward-thinking approach to the shipping industry with the latest announcement of Four New Ultra-Spec Tankers. Set to be delivered in Q2 2025, these 7,700 DWT IMO II Chemical Tankers represent a significant leap forward in sustainable and efficient fuel supply, aligning with the global push toward greener maritime operations.
John A. Bassadone emphasized the strategic foresight behind the company’s decisions: “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. 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.”
These innovative tankers are being constructed by the Jiangmen Hangtong Shipyard in China, with the first vessel scheduled for delivery in Q2 2025. The remaining three will be received at three-month intervals, ensuring a steady and reliable expansion of HTM’s fleet. The vessels will be time-chartered to Peninsula, reinforcing the close synergy between the two companies, and contributing to Peninsula’s ambitious fleet modernization program.
Cutting-Edge Design for the Future of Fuel Supply
The new HTM tankers have been described as ‘ultra-spec’ by Peninsula, largely due to their advanced capabilities. Not only are they designed to supply Methanol and 100% biofuel, but they also come equipped with diesel-electric power units that are battery-ready, ensuring future scalability. These power units are expected to reduce emissions by approximately 20% compared to conventional product tankers, marking a significant step toward greener operations.
The vessels are powered by twin engines with Schottel propulsion, a feature that greatly enhances manoeuvrability and safety, especially during Ship-to-Ship (STS) transfers or port loading operations. This design flexibility aligns perfectly with the industry’s increasing demand for alternative fuel supply, particularly methanol, which is expected to see a 250% growth in the global fleet over the next four years.
Meeting Future Demands
HTM’s foresight in placing early orders for these tankers, especially in the current market where shipyard slots are limited, demonstrates their strong commitment to future-proofing their fleet. Bassadone’s leadership and strategic insight into the future demand for alternative fuels, such as methanol, is not only timely but also critical to staying competitive in the evolving maritime landscape.
The near-term launch of methanol-ready tonnage positions both HTM and Peninsula to capture significant market share in the methanol-powered fleet sector. As the global fleet continues to shift towards cleaner fuels, HTM is poised to be at the forefront, ensuring its assets are well-suited to meet the growing demand for greener shipping solutions.
With this bold expansion, John A. Bassadone and HTM are setting a new standard for flexibility, efficiency, and sustainability in the maritime industry. Their innovative approach to fleet development will undoubtedly play a crucial role in shaping the future of alternative fuel supply in the years to come.
Peninsula in Brief
Peninsula is a global leader in the supply of marine fuels, delivering energy solutions from multiple physical supply stations and a comprehensive global trading network. With offices and operations in all major world ports, Peninsula conducts over 25,000 deliveries annually, serving over 2,000 customers worldwide.
As a trusted partner in the marine energy sector, Peninsula is known for its transparency and low-risk tolerance, which has earned it the support of a wide range of stakeholders. Peninsula is also a strong advocate for maritime decarbonization and supports the global journey toward net zero by 2050. The company introduced LNG bunkering into its product range in 2021 and continues to explore the viability of alternative fuel options to keep the global fleet moving.
Hercules Tanker Management 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.
Source Peninsula | Hercules Tanker Management