Business

Peninsula founder launches shipping firm Hercules Tanker Management

John A. Bassadone, founder and CEO of Peninsula, officially launched his shipping venture, HTM, that will operate as an independent ship owner, active in chartering tonnage and commercial management.

Published

8 months ago

September 12, 2024

Admin

Peninsula founder launches shipping firm Hercules Tanker Management

John A. Bassadone, founder and CEO of independent marine fuel supplier Peninsula on Wednesday (11 September) officially launched his shipping venture, Hercules Tanker Management (HTM).

HTM operates as an independent ship owner, active in chartering tonnage and commercial management. The company also facilitates Peninsula’s cargo flows and physical supply operations.

Since 2012, Peninsula has expanded its supply chain, focusing on logistics control. Initially using product tankers for bunkering, it later incorporated larger tankers as it grew in various cargo markets. Leveraging its fleet operations experience, Peninsula established HTM in 2022, soft launching in late 2023.

Now an active freight trader in its own right, HTM initially emanated from Peninsula’s growth in cargo markets, which necessitated the 2022 creation of a dedicated chartering desk. This desk remains the hub of HTM, with both companies maintaining close ties as shipping and energy partners.

Tonnage, previously owned and operated by Peninsula, has moved to HTM but will continue to be utilised by Bassadone’s marine energy business.

HTM’s combined newbuild plans and gradual fleet renewal assist Peninsula with its sustainability goals. These have been further enhanced by two purpose-built LNG bunkering vessels. The Levante LNG is currently actively supplying LNG across the Western Mediterranean, and a further vessel, with an option for another, is under construction by Hyundai Mipo shipyard in South Korea.

Bassadone, said: “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.”

“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.

“These are genuinely exciting times and I’m keen to carefully, further build the Hercules fleet, with the right assets, bringing both operational flexibility and improved environmental efficiency. HTM is already well positioned in the market and can now forge ahead with plans to further increase tonnage under management.”

HTM Overview:

4 x owned Handymaxes (2 of which are signed MOAs)
3 x chartered in Handymaxes
1 x owned MR
1 x owned Panamax
1 x owned LNG bunker vessel (plus 1 under construction + option for an additional vessel)
11 x owned product/chemical tankers between 5k and 22k DWT
18 x chartered in product/chemical tankers between 5k and 20k DWT
1 x product/chemical tanker MOA signed for purchase
4 x product/chemical tanker (2 x methanol ready) under construction

Total: 44 Vessels (owned/chartered in/MOAs signed)

Photo credit: Peninsula
Published: 12 September, 2024

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Biofuel

NYK to launch Japan’s first antioxidant for biodiesel bunker fuel in August

When added to biofuel, BioxiGuard slows progression of oxidative degradation and helps deter issues such as metal corrosion, strainer blockage, and cleaning-system fouling often triggered by oxidised fuel.

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May 22, 2025

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Japan’s first antioxidant by NYK for biodiesel bunker fuel set to release in August

Nippon Yuka Kogyo (Nippon Yuka), an NYK Group company specialising in chemical R&D as well as the manufacture and sale of chemical products, on Wednesday (21 May) announced the upcoming release of BioxiGuard, the Japan’s first antioxidant specially developed for marine biodiesel, from 10 August.

NYK said compared with conventional petroleum-based fuels, biofuel contains a higher proportion of unsaturated fatty acids, making it more susceptible to oxidative degradation. Once oxidised, the biofuel can produce acidic substances and sludge, adversely affecting vessel fuel efficiency by reducing the fuel’s calorific value.

Developed by Nippon Yuka based on property analyses of the biofuel used in NYK-operated vessels, BioxiGuard is specifically formulated to enhance the oxidation stability of biodiesel. When added to biofuel, BioxiGuard slows the progression of oxidative degradation and helps deter issues such as metal corrosion, strainer blockage, and cleaning-system fouling often triggered by oxidised fuel.

According to laboratory tests conducted by Nippon Yuka researchers, the addition of BioxiGuard at a concentration of 1 part per 500 resulted in an approximate 50% reduction in the rate of biofuel degradation compared to untreated biofuel.

This significant improvement underscores the potential for vessel operators to not only extend the useful life of biofuel on board but also maintain more stable and cost-effective vessel operations.

Photo credit: NYK
Published: 22 May, 2025

Wind-assisted

Dealfeng to equip Singapore-based Hung Ze’s chemical tankers with rotor sails

Project marks Chinese firm Dealfeng’s first overseas commercial contract for its wind-assisted propulsion technology which entails equipping a new series of 14,000 DWT chemical tankers with Dealfeng Rotor Sails.

Published

17 hours ago

May 22, 2025

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Singapore-based Hung Ze chemical tankers to be equipped with Dealfeng rotor sails

Dealfeng, a Chinese provider of wind-assisted propulsion systems, on Tuesday (20 May) said it has assigned a cooperation agreement with Singapore-based shipowner Hung Ze Shipping.

The partnership will equip a new series of 14,000 DWT chemical tankers with Dealfeng® Rotor Sails.

Each vessel will feature a 5m x 24m Dealfeng Rotor Sail installed on its forecastle deck. Collaborating with maritime software leader NAPA, the project will utilise route optimisation systems to maximise the efficiency of wind-assisted voyages, further enhancing fuel savings and emissions reduction while improving overall energy performance.

“The first vessel in the series is scheduled for delivery with the rotor sail system in the fourth quarter of 2025. Preliminary calculations indicate that the technology will achieve approximately 8% fuel savings on the vessel’s trading routes,” the company said in a social media post.

The project marked Dealfeng’s first overseas commercial contract for its wind-assisted propulsion technology.

Dealfeng, a clean energy technology company specialising in the R&D, manufacturing, and EPC services of shipborne energy-saving systems, has long focused on developing Wind Assisted Propulsion Systems (WAPS). Its core product, the Rotor Sail, harnesses wind energy via the Magnus effect to provide auxiliary propulsion for vessels.

Tailored to different ship types, the system offers fuel and carbon emission reductions of 5%–25%, with even greater efficiency under favorable wind conditions. Dealfeng’s Rotor Sail technology has obtained certifications from multiple classification societies and has been successfully deployed across numerous vessels, accumulating years of operational experience that validate its safety, reliability, and effectiveness.

Hung Ze operates a diverse fleet ranging from 5,000 DWT vessels to MR product tankers.

Photo credit: Dealfeng
Published: 22 May, 2025

Newbuilding

Höegh Autoliners latest LNG dual-fuel PCTC en route to Shanghai for bunkering

The 9,100 CEU “Höegh Sunrise”, currently sailing the seas, is on its way to Shanghai for bunkering before sailing to Japan and then towards Europe.

Published

17 hours ago

May 22, 2025

Admin

Höegh Autoliners latest LNG dual-fuel PCTC en route to Shanghai for bunkering

Höegh Autoliners on Tuesday (20 May) said its latest liquefied natural gas (LNG) dual-fuel pure car and truck carrier has departed China Merchants Heavy Industry’s yard, ready to commence its commercial operations.

The 9,100 CEU Höegh Sunrise, currently sailing the seas, is on its way to Shanghai for bunkering before sailing to Japan and then towards Europe.

The PCTC is the fifth in a series of 12 Aurora Class vessels built by the shipyard in China. The first eight Auroras are or will be equipped with engines primed to run on LNG and low-sulphur oil.

These vessels can be converted to run on ammonia later. By 2027, Höegh Autoliners said the four last vessels of the series will be able to run net zero on ammonia directly from the yard when delivered.

Manifold Times previously reported the naming ceremony of Höegh Autoliner’s fourth Aurora Class newbuild, Höegh Sunlight, at Taicang Haitong Auto Terminal.