HTM orders four 'ultra-spec' chemical tankers at Jiangmen Hangtong Shipyard

The first vessel will be delivered by Q2 2025

Hercules Tanker Management (HTM) – the new shipping venture established by Peninsula founder and CEO, John A. Bassadone will start receiving four new ‘ultra-spec’ tankers, capable of supplying methanol and 100% biofuel, in Q2 2025, Bunker Spot reported.

The vessels will be delivered at three-month intervals and will be time-chartered to Peninsula, the company said in a statement sent to Bunkerspot on 4 October.

HTM commissioned the 7,700 DWT new build IMO II Chemical Tankers from the Jiangmen Hangtong Shipyard in China. The first vessel will be delivered by Q2 2025.

Further enhanced specs include diesel-electric (and battery-ready) power units, which HTM noted reduces emissions ‘by around 20% compared to other conventional product tankers’. Meanwhile, twin engine with Schottel propulsion ‘significantly improves manoeuvrability and safety’ during STS or loading operations, the company said.

Peninsula says the launch of methanol ready tonnage will help it service ‘rapid growth’ in the global methanol-powered fleet, which it noted is ‘anticipated to rise by over 250% in the next 4 years.’

‘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,’ said Bassadone. ‘It was perhaps perceived as a risk when HTM was first-to-market with these orders over two 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.'