AET Inc. and Shell International Trading and Shipping Company Thursday formalised arrangements for the long-term charter of AET’s two newbuild liquefied natural gas (LNG) dual-fuelled Aframax tankers.
Both 113,000 dwt vessels are currently being built by Samsung Heavy Industries in South Korea and are due for delivery from Q3 of 2018. Shell will take both vessels on a long-term charter commencing in the fourth quarter of 2018.
“We took the decision to begin building LNG dual-fuelled Aframax vessels some time ago and these two Aframaxes are amongst the first to take their place in our global fleet,” said AET’s President and CEO, Capt. Rajalingam Subramaniam.
“Shell is a longstanding and highly valued partner, and we have been working together on these time charter arrangements for quite some time. The fact that Shell has agreed to charter our new ships is a true testament to their commitment to thriving throughout the energy transition and will encourage AET to forge ahead with our commitment to operate a future fleet, where at least half of our ships are fuelled with LNG.”
Both Malaysian flagged vessels will be fitted with twin LNG tanks, allowing them to trade worldwide on LNG. Use of the fuel allows the vessels to operate in 0.1% sulphur SECA regions of North America, Northwest Europe and Asia, and ensures full compliance with the incoming 2020 sulphur cap.
“These two LNG fuelled vessels will help Shell Trading move crude, principally in the Atlantic basin,” says Mark Quartermain, Vice President, Shell Crude Trading.
“LNG is a credible marine fuel and will play an important role in our fleet as we introduce cleaner and more efficient vessels. As emissions standards tighten we continue to work with forward thinking companies like AET to support lower emission transportation solutions.”
Photo credit: AET Tankers
Published: 13 April, 2018
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