Bassadone’s HTM boosts tanker newbuild tally

Hercules Tanker Management (HTM) has moved to further bolster and renew its fleet with up to 10 new vessels.

The John Bassadone-led outfit has returned to Jiangmen Hangtong Shipyard in China for six firm and four optional 7,700 dwt IMO II chemical tanker newbuilds after contracting four ‘ultra-spec’ sister ships at the yard earlier this year.

The newbuilds will be fit to supply methanol as well as 100% biofuel and feature diesel-electric and battery-ready power units, which, when paired with the vessel’s design, would reduce emissions by around 20% compared to other conventional product tankers, the company said. 

“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,” said HTM founder and CEO Bassadone, adding that the company remains committed to conventional fuels supply but also anticipates an evolving alternative fuels market in which it intends to play a leading role with ships that will deliver the service with lower emissions.

HTM officially launched in September with a managed fleet comprising over 40 vessels ranging from conventional bunker barges to product carriers. HTM’s first four chemical tanker newbuilds are scheduled to start delivering in the second half of 2025, while the latest series should start joining the fleet in 2026. The company also recently ordered a pair of 18,000 cu m LNG bunker vessels at HD Hyundai Mipo in South Korea.