Hercules Tanker Management Expands Fleet with Strategic Acquisition of Five Product and Chemical Tankers in International Shipping News 02/06/2026 Hercules Tanker Management (“Hercules”) has announced the acquisition of five product and chemical tankers as part of its continued disciplined fleet expansion. The transaction includes: STI Madison (2014 LR2), STI Brooklyn (2015 MR2) and STI Black Hawk (2015 MR2) – acquired from Scorpio Tankers; and Nord Marvel (2020 MR2) and Nord Maverick (2020 MR2) – acquired from Norden. The acquisitions represent a combined investment of approximately USD 225 million, with all vessels secured on long-term commercial charters, reinforcing Hercules’ strategy of pairing asset ownership with contracted earnings visibility. A Disciplined and Timely Investment in a Strong Market The acquisitions have been completed against the backdrop of a firm tanker asset market, with second-hand values continuing to trade at historically elevated levels due to strong freight markets, constrained fleet growth and limited shipyard availability. Recent comparable transactions further support the strength of underlying values, with similar vessels transacting at levels of up to approximately 10 per cent above the pricing achieved by Hercules in its recent acquisitions, highlighting the attractive entry point secured for these assets. Against this backdrop, Hercules believes the pricing achieved in these acquisitions is well aligned with prevailing market conditions, particularly considering the vessels’ strong specifications and the benefit of long-term charter coverage. Commercial Strategy: Contracted Cashflow and Operational Flexibility All five vessels enter the Hercules fleet with long-term commercial employment already secured, consistent with the company’s strategy of combining: Asset-backed exposure to tanker markets, with Downside protection through contracted earnings, and Operational flexibility to serve the growing global cargo flows of its part