You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Hercules Tanker Management Adds Five Product and Chemical Tankers to Fleet Hercules Tanker Management Adds Five Product and Chemical Tankers to Fleet by Ship & Bunker News Team Monday June 1, 2026 Tweet Follow @shipandbunker John Bassadone is CEO of both Hercules Tanker Management and bunker supplier Peninsula. Image Credit: Hercules Tanker Management Hercules Tanker Management, the shipping company set up by Peninsula founder John Bassadone in 2024 , has added five new refined products and chemical tankers to its fleet. The firm has acquired the LR2  STI Madison  and the MR2s  STI Brooklyn  and  STI Black Hawk  from Scorpio Tankers , and the MR2s  Nord Marvel  and  Nord Maverick  from Norden , it said in an emailed statement on Monday . "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," the company said. The acquisitions represent a combined investment of about $225 million . The acquisitions are aimed at delivering asset-backed exposure to tanker markets, with downside protection through contracted earnings, as well as providing operational flexibility to serve the growing cargo flows of the company's partners and affiliates. "This is another step in building Hercules carefully and deliberately," Bassadone said in the statement. “ We are not trying to grow for growth's sake John Bassadone "We are not trying to grow for growth’s sake. "Our focus is on acquiring the right assets, at the right t