Hercules Tanker Management (HTM) is set to significantly enhance its fleet with the addition of six new 7,700 DWT IMO II Chemical Tankers. This expansion aligns with HTM’s ongoing commitment to modernizing its fleet to meet the evolving demands of the maritime and energy sectors. The vessels are being constructed at the Jiangmen Hangtong shipyard in China and are part of a broader fleet renewal program with Peninsula Petroleum. There is also an option to build an additional four vessels later this year, further solidifying the company’s growth plans.
The newly ordered tankers will be sister ships to four vessels previously announced and are designed with advanced specifications that reflect HTM’s focus on sustainability and operational efficiency. Dubbed “ultra-spec,” these vessels are capable of handling multiple fuel including methanol and biofuels, positioning HTM to play a critical role in the emerging alternative fuels market.
Key features of the new vessels include diesel-electric power units that are battery-ready, resulting in a 20% reduction in emissions compared to conventional product tankers. The twin-engine configuration, coupled with Schottel propulsion, will significantly enhance maneuverability, improving safety during ship-to-ship (STS) operations or loading procedures. These advancements are critical as HTM aims to meet both the growing demand for methanol-powered vessels and the global push towards greener maritime operations.
The launch of these methanol-ready tankers comes at a pivotal time as the global methanol-powered fleet is expected to grow by over 250% in the next four years. HTM’s foresight in recognizing this trend, especially amid ongoing constraints in shipyard availability, ensures the company remains ahead of the curve in meeting market needs.
John A. Bassadone, CEO of Peninsula and HTM, expressed his enthusiasm for the new fleet expansion: “The order of these new vessels marks another important milestone for HTM as we continue expanding and renewing our fleet, closely aligned with the needs of both HTM’s and Peninsula’s customer base. We remain committed to the supply of conventional fuels, but our new assets will achieve this with lower emissions. Equally, we anticipate an evolving alternative fuels market, in which we will play a leading role with specialist supply assets.”
This strategic expansion not only highlights HTM’s commitment to reducing emissions and supporting sustainable shipping practices but also positions the company as a key player in the development of alternative fuels within the maritime industry.
As HTM continues to modernize its fleet, it is poised to provide a critical supply of next-generation vessels that meet the changing fuel demands of the global shipping industry. This move underscores HTM’s role in shaping the future of maritime logistics and its dedication to sustainable, eco-friendly solutions.
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