Hercules Tanker Management Orders New 18,000 M3 LNG Bunker Delivery Vessel

by Ship & Bunker News Team
Wednesday September 18, 2024

Hercules Tanker Management, the new shipping firm owned by Peninsula CEO John Bassadone, has signed a deal to take on a new LNG bunker delivery vessel.

HTM has ordered the 18,000 m3 vessel from Hyundai Mipo Dockyard in South Korea, it said in an emailed statement on Wednesday. The vessel will be operated by Peninsula.

The ship is due for delivery in 2027, and the deal includes the option to order a second vessel.

Peninsula has been operating its first LNG bunker delivery vessel, the 12,500 m3 Levante LNG, in the Strait of Gibraltar and Western Mediterranean since October 2023.

The firm's LNG bunkering customers include Royal Caribbean, Eastern Pacific, K-Line and MSC.

"I am thrilled to be adding another LNG bunkering vessel to our fleet," John A. Bassadone, CEO of Peninsula and HTM, said in the statement.

"The close working partnership between our own technical experts and Hyundai Mipo, one of the leaders in LNG bunkering vessel construction, will deliver a best-in-class ship, with no expense spared, to deliver optimal solutions for global shipping. 

"The industry is increasingly looking to low-carbon fuels to help meet international decarbonisation targets.

"LNG is one of the few lower-emission marine fuels available for commercially viable use today.

"Since the launch of Levante LNG, we have seen a significant increase in the LNG-capable global fleet, with many more vessels scheduled for launch in the coming years.

"We are investing today to maintain decarbonisation momentum tomorrow."

Ship & Bunker News Team
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