Peninsula Launches Independent Tanker Company to Expand Freight Operations

London-based marine fuels supplier Peninsula has announced the creation of Hercules Tanker Management (HTM), a new independent entity that will take over Peninsula’s shipping operations.

The strategic move aims to expand the company’s presence in the tanker freight sector.

HTM will operate as an independent ship owner, managing a fleet of 44 vessels, including deep sea tankers not previously part of Peninsula’s fleet. The new company plans to expand its operations in transporting fuel oil, refinery feedstocks, and gasoil cargoes.

John Bassadone, Peninsula’s owner, explained the rationale behind the decision: “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.”

HTM will focus on operating larger tanker sizes to achieve economies of scale across Peninsula’s worldwide supply chain and to build 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,” said Bassadone.

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