Hercules Tanker Management (HTM) is further expanding and renewing its fleet with the construction of up to 10 new vessels at a Chinese shipyard.
Previously, HTM and Jiangmen Hangtong Shipbuilding Of CCCC Fourth Harbor Engineering (Jiangmen Hangtong Shipbuilding) signed a contract for the construction of four 7,700 dwt IMO II chemical tankers in October this year, which are expected to be delivered in the second half of 2025.
HTM has now returned to Jiangmen Hangtong Shipbuilding and has once again placed an order for 6+4 7,700 DWT IMO II chemical tankers, with the first vessel expected to be delivered in 2026. This order brings the total number of chemical tankers placed by the shipowner at Jiangmen Hangtong Shipbuilding to 14.
HTM stated that these new vessels will be suitable for supplying methanol and 100% biofuel. They will be equipped with diesel-electric and battery power systems. Compared to other conventional product tankers, the power systems of these tankers, combined with the design, can reduce emissions by approximately 20%.
John A. Bassadone, founder and CEO of HTM, said: “The order for these new vessels marks another important milestone for HTM as we continue to expand and update our fleet. The company will remain committed to the supply of traditional fuels, but also expects that the alternative fuel market will continue to develop. The company intends to play a leading role in this new market and provide lower emission vessel services.”
HTM was just established this September by John A. Bassadone, the CEO and founder of marine fuel supplier Peninsula. The fleet under its management consists of over 40 vessels, including traditional bunker barges and product tankers.
In related news, HTM recently ordered two 18,000 cubic meter LNG bunkering vessels from South Korean shipbuilder HD Hyundai Mipo. The cost of each vessel is approximately US$92.7 million and is expected to be delivered in November 2027.
According to the official website, Jiangmen Hangtong Shipbuilding is the collective name of Guangzhou Hangtong Shipbuilding Co., Ltd. and CCCC Fourth Harbor Engineering Bureau Jiangmen Hangtong Shipbuilding Co., Ltd. It is a wholly-owned subsidiary of CCCC Fourth Harbor Engineering Bureau Co., Ltd., a second-level subsidiary of China Communications Construction Co., Ltd., a Fortune 500 company. It was founded in 1993.
Hangtong Shipbuilding has a manufacturing base of 290,000 square meters, with various production facilities including production workshops, coating workshops, 465-meter slipways, 700-meter berthing piers, transverse mechanical slideway ship rows, gantry cranes, portal cranes, CNC cutting equipment, and etc.. It has built and delivered more than 300 special vessels such as port and shipping construction ships, marine engineering auxiliary work vessels, and liquid cargo transport tankers.