World News
Peninsula Committed to Supply of Conventional Fuels Ahead of Evolving Alternative Fuels Market
John A. Bassadone, Founder and CEO Hercules Tanker Management (HTM) and Peninsula, today reiterated his firms’ commitment to the supply of convention bunker fuels as the industry looks to new fuels to meet emissions targets.
The comments came alongside news that Bassadone’s HTM, launched in September, has ordered up to 10 more 7,700 DWT IMO II Chemical Tankers.
Six of the vessels are confirmed with Jiangmen Hangtong shipyard in China, the option to build an additional four set to be agreed later this year
Like the four previously announced sister ships, the so-called ‘ultra-spec’ ships will have the ability to supply up to 100% biofuel, all forms of methanol, and feature diesel-electric and battery-ready power units.
HTM says improved hull and propeller designs will reduce emissions by around 20% compared to older conventional barges.
“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,” Bassadone said in a press release release issued today.
“We remain committed to the supply of conventional fuels, but our new assets will achieve this with lower emissions. Equally we anticipate an evolving alternative fuels market, in which we will play a leading role with specialist supply assets.”
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 549.00 | 0.50 | 668.50 | 4.00 |
| Rotterdam | 503.50 | 2.00 | 653.00 | 3.50 |
| Houston | 549.50 | 4.00 | 677.50 | 1.00 |
| Fujairah | 544.50 | 1.50 | 746.00 | 0.00 |
| Global 20 Ports Average | 578.50 | 1.00 | 758.50 | 0.00 |
| Global 4 Ports Average | 536.50 | 1.50 | 686.50 | 1.50 |
| Global Average Bunker Price | 622.50 | 1.50 | 803.00 | 1.50 |
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