Shell charters three AET shuttle tankers for Brazil

AET Tankers, a subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad, has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity.

Under the terms of the deal, AET will own and operate three newbuilding Suezmax Class dynamic positioning (DP) shuttle tankers for operations in international and Brazilian waters.

AET is the petroleum shipping unit of MISC and specializes in the global ocean transport of petroleum.

According to MISC’s Bursa Malaysia filing from Friday, the long-term time charter for the three vessels is expected to begin in 2022 and has an estimated contract value of $245 million.

AET said that these long-term time charter contracts would further reinforce its position in the niche Dynamic Positioning Shuttle Tankers market.

It is worth reminding that AET secured its first contract with Shell for the time charter of one new-build dynamic positioning shuttle tanker in Brazil back in August 2018. The 152,700 DWT DP2 vessel, being built by a Korean shipyard, is expected to be delivered in 4Q 2020.

Offshore Energy Today Staff