Hercules Tanker Management adds ten tankers at Jiangmen Hangtong shipyard

HTM has inked contract for six newbuilds and options to build an additional four chemical tankers with China’s Jiangmen Hangtong shipyard.

The 7,700 dwt IMO II chemical tankers will be sister ships to the four vessels announced previously by the company, which are also being constructed in Jiangmen Hangtong shipyard.

The 'ultra-spec' vessels will be able to carry methanol as well as 100% biofuel, granting supply flexibility to Peninsula, the bunker supply company owned by HTM owner John A Bassadone which spawned HTM two years ago. Further enhanced specs include diesel-electric, battery-ready power units, and twin engines with Schottel propulsion. The design choices improve manoeuvrability and safety during STS or loading operations, and reduces emissions by around 20% compared to other conventional product tankers, said HTM.

“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 Hercules Tanker Management’s and Peninsula’s customer base,” said John A. Bassadone, founder and chief executive officer of both Peninsula and Hercules Tanker Management.

HTM will start receiving its first four new tankers in Q2 2025 and the second batch in 2026. The company currently has over 40 owned and managed vessels, including deep sea tankers, smaller product and fuel supply tankers, and an LNG bunkering vessel.

Related:Peninsula expands bunker operations into Abu Dhabi and Jebel Ali