World News
Peninsula Owner Launches Shipping Firm
The owner and CEO of global marine fuel supplier Peninsula has launched a new shipping company.
John Bassadone's new venture, Hercules Tanker Management, will operate as an independent ship owner active in chartering tonnage and commercial management, the company said in an emailed statement on Wednesday.
The firm will also facilitate Peninsula's cargo flows and physical supply operations.
Peninsula set up a dedicated chartering desk in 2022, and this will form the basis of the new company.
Tonnage previously owned and operated by Peninsula has moved to HTM.
"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," Bassadone said in the statement.
"The experience and knowledge from operating vessels and running cargo has 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 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."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 569.50 | 0.00 | 680.00 | 0.00 |
| Rotterdam | 515.00 | 1.00 | 674.00 | 2.00 |
| Houston | 550.00 | 2.50 | 678.00 | 6.50 |
| Fujairah | 560.50 | 0.50 | 753.50 | 2.50 |
| Global 20 Ports Average | 586.00 | 0.00 | 761.00 | 2.00 |
| Global 4 Ports Average | 549.00 | 1.00 | 696.50 | 2.00 |
| Global Average Bunker Price | 634.50 | 1.00 | 800.50 | 2.00 |
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