World News
Peninsula to Charter Three New Methanol Tankers From HTM
Global marine fuel supplier Peninsula is set to charter three new bunker tankers capable of delivering methanol.
Hercules Tanker Management, the shipping firm launched by Peninsula owner John Bassadone, has ordered the three 7,700 DWT chemical tankers from the Jiangmen Hangtong Shipyard in China, it said in an emailed statement on Friday.
The ships will be able to deliver both biofuel blends -- up to 100% in biofuel content -- and methanol.
Peninsula will charter the vessels from HTM upon their delivery from the second quarter of 2025.
"The partnership between HTM and Peninsula allows us to build ships which cater for customer needs, thus de-risking construction whilst maintaining full flexibility," Bassadone said in the statement.
"This model ensures our assets optimise efficiency and remain relevant.
"It was perhaps perceived as a risk when HTM was first-to-market with these orders over 2 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."
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 571.00 | 1.50 | 685.50 | 5.50 |
| Rotterdam | 516.50 | 1.50 | 677.50 | 3.50 |
| Houston | 556.00 | 6.00 | 679.00 | 1.00 |
| Fujairah | 565.00 | 4.50 | 755.00 | 1.50 |
| Global 20 Ports Average | 589.00 | 3.00 | 764.50 | 3.50 |
| Global 4 Ports Average | 552.00 | 3.00 | 699.00 | 2.50 |
| Global Average Bunker Price | 635.50 | 1.00 | 811.50 | 11.00 |
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