AET brings in Singfar’s LNG dual-fuel Aframax duo on long-term charter

AET, a petroleum arm of Malaysia’s shipowner MISC, is advancing its fleet rejuvenation efforts with a new long-term charter for two LNG dual-fuel Aframaxes.

AET said on April 17 it had locked in the new long-term charter for two LNG dual-fuel oil tankers with Singaporean shipowner Singfar.

The vessels will go on a charter to AET’s fleet from the end of 2027, contributing to the company’s greenhouse gas (GHG) emissions reduction.

AET’s President & CEO, Zahid Osman, commented: “Today’s signing signifies another important step forward in AET’s fleet rejuvenation efforts, aligned with our AET2030 Energy Transition Strategy. By adding these two eco-efficient vessels on long-term charter to our fleet from end 2027, they will bring AET closer towards our 2030 target of 40% GHG emissions intensity reduction (from 2008 baseline) and the MISC Group’s ambition of net-zero by 2050.”

In addition to LNG, the company is also making strides in utilizing ammonia as mairne fuel in line with decarbonization agenda.

To this end, AET just recently ordered and chartered out ‘the world’s first’ two ammonia dual-fuel Aframaxes.

The tanker duo will be built by Chinese shipbuilder Dalian Shipbuilding Industry Co. (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC), and chartered to Malaysian company PETCO Trading Labuan Company (PTLCL), Petronas’ midstream services arm.

Going forward, the MISC Group also intends to further collaborate with like-minded industry players to drive the development of the required ecosystem to support ammonia as a bunker fuel.