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AET and PTLCL Sign MOU for Zero-emission Aframax

Maritime Activity Reports, Inc.

February 28, 2023

(Photo: AET)

(Photo: AET)

Tanker operator AET announced it has signed a memorandum of understanding (MOU) with Malaysia's PETCO Trading Labuan Company Ltd (PTLCL) to explore a potential collaboration to deploy a future zero-emission Aframax tanker powered by green ammonia.

AET said it would be responsible for selecting a suitable shipyard to build the net zero-emission dual-fuel tanker, which would be delivered to PTLCL for long-term charter by 2026.

The companies also intend to collaborate on the design, safety and operation aspects as well as to study opportunities for a green ammonia corridor in Southeast Asia, in support of the International Maritime Organization's (IMO) greenhouse gas intensity reduction agenda, AET said.

Capt. John Baptist, Global Director, VLCC/PCS, AET and Head, Decarbonization Unit, MISC said, “This MOU marks a further positive step to advance AET and MISC Group’s 2030 and 2050 strategic decarbonization aspirations for shipping, adding to the pair of zero-emission ammonia-fueled deep-sea tanker vessels under the Castor Initiative and our collaboration with PTT for two zero-emission Aframaxes which were both announced last year.”

The MOU follows another signed by AET in September 2022 with Thai national energy company PTT for the development and construction of two zero-emission Aframaxes to be powered by green ammonia.

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