In a significant leadership transition, Matthew Dormer has been appointed as Head of Shipping at Hercules Tanker Management (HTM), following his tenure as Head of Chartering at Peninsula, a role he took on in May 2022. Dormer brings over a decade of industry expertise, positioning him to lead HTM’s continued growth and expansion in global shipping.
Dormer’s journey began in 2012 with one of the world’s largest tanker owners, where he played a pivotal role in establishing a Crude, Dirty Petroleum Products (DPP), and Liquefied Petroleum Gas (LPG) trading presence from London. His career path then led him to Dubai, where he managed operations across the Far East, further broadening his global reach in the shipping sector.
Upon joining Peninsula in 2022, Dormer spearheaded the establishment of a freight trading desk in Gibraltar and developed a foundation for independent ship ownership, which evolved into Hercules Tanker Management. His move to HTM marks the next step in building a stronger shipping presence in the industry.
John A. Bassadone’s Vision for Hercules Tanker Management’s Future
John A. Bassadone, owner of Peninsula, outlined his strategic vision behind launching HTM, emphasizing the company’s long-term growth focus. He explained:
“After almost three decades in the marine energy industry and with steady and growing cargo flow, it is the right time to launch a specialist tanker company with a growth appetite and long-term focus. The experience and knowledge from operating vessels and running cargo have allowed us to accelerate this process. We own a diverse range of tankers, allowing us to actively participate in global freight markets, flexibly servicing customer needs.”
HTM is poised to play a crucial role in advancing Peninsula’s global supply chain as it seeks greater economies of scale. Bassadone also expressed excitement about expanding HTM’s fleet:
“Hercules Tanker Management will increasingly operate larger tanker sizes, partly as Peninsula seeks increased economies of scale across its worldwide supply chain, but also as HTM further builds its own trading book. These are genuinely exciting times and I’m keen to carefully further build the Hercules fleet, with the right assets, bringing both operational flexibility and improved environmental efficiency. HTM is already well positioned in the market and can now forge ahead with plans to further increase tonnage under management.”
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.
About Hercules Tanker Management
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.
Source Peninsula | Hercules Tanker Management