AET signs long-term charter for two LNG dual-fuel Aframaxes

MISC has entered into Time Charter Party Contracts with PETCO Trading Labuan Company Ltd through its petroleum arm, AET, for the world’s first two ammonia dual-fuel Aframaxes. These vessels will enable PTLCL to transport its products globally while contributing to industry decarbonisation by using ammonia as a cleaner alternative to conventional fuel.

Additionally, AET has signed shipbuilding contracts for these vessels with Dalian Shipbuilding Industry Co., Ltd, a subsidiary of China State Shipbuilding Corporation.

The TCP was signed by Mr. Zahid Osman, president & CEO of AET, and Mr. Shamsul Bahari Salleh, CEO of PTLCL, witnessed by Captain Rajalingam Subramaniam, president and group CEO of MISC, and Mr. Ahmad Adly Alias, chairman of PTLCL.

This milestone represents a significant advancement in the partners’ efforts to make ammonia a viable fuel for the maritime industry.

Captain Rajalingam Subramaniam, president and group CEO of MISC, expressed his congratulations to AET and PTLCL for achieving this significant milestone. He highlighted the collaboration with PTLCL, a member of the PETRONAS Group, and thanked DSIC for their involvement. He praised the efforts of MISC Marine and New Energy & Decarbonisation of MISC in bringing this vision to life.

Zahid Osman, president & CEO of AET, emphasised the commitment of industry leaders to decarbonise the shipping sector through concrete actions. He thanked PTLCL and DSIC for their forward thinking and collaboration in spearheading this new generation of ultra-low emissions tankers.

This achievement signifies a significant leap forward in sustainable shipping practices, demonstrating MISC Group’s ongoing commitment to innovation and environmental responsibility. The MISC Group plans to collaborate with industry players to develop the ecosystem required to support ammonia as a bunker fuel. Additionally, they will continue to work with Akademi Laut Malaysia and industry partners to train seafarers in safely managing the new generation of ultra-low emissions tankers.

MISC Group looks forward to leading sustainable maritime transportation and pushing the boundaries of what is possible in the industry.