AET Wins $245Mln Charter Deal with Shell

Maritime Activity Reports, Inc.

December 8, 2019

Image: AET Tanker Holdings Sdn. Bhd.

Image: AET Tanker Holdings Sdn. Bhd.

Petroleum and chemical tanker owner AET Tanker Holdings has been awarded three long-term time charter contracts by Brazil Shipping I Limited, a Shell group entity.

The subsidiary of Malaysia’s maritime solutions and services provider MISC Berhad said in a press release that Under the terms of the deal it will own and operate the related newbuilding Suezmax Class Dynamic Positioning (DP) shuttle tankers for operations in international and Brazilian waters.

The estimated contract value is USD 245 million and the charter is expected to commence in 2022.

These long-term time charter contracts will further reinforce AETs position as one of the global market leaders in the niche Dynamic Positioning Shuttle Tankers market in addition to fortifying its position as amongst the world’s leading international petroleum shipping solutions providers.

Brazil Shipping Limited 1's first contract involving AET’s dynamic positioning shuttle tanker portfolio was signed in 2018. Both companies have had long cooperation in other segments, including the chartering of Aframax vessels on long-term charter.

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