Aet Inc News

Teekay Tankers Ltd. announced the appointment of Mr. Kevin J. Mackay as Chief Executive Officer (CEO) of Teekay Tankers, effective June 20, 2014. Mr. Mackay will join Teekay Tankers from Phillips 66 Corporation (Phillips 66), where he is currently head of the global marine business unit for this industry-leading downstream company. In this role, he is responsible for all aspects of marine transportation, including chartering, operations, demurrage, strategy & freight trading, business improvement and marine risk management. He held a similar role as the General Manager, Commercial Marine at ConocoPhillips from 2009 to 2012 before the formation of Phillips 66. Mr. Mackay started his career working for Neptune Orient Lines in Singapore from 1991 to 1995. He then joined AET Inc.

MISC Bhd said its wholly-owned unit, AET Inc Ltd, signed a contract with Samsung Heavy Industries for the purchase of four new 158,500-dwt Suezmax tankers at a cost of $67.8m each, according to a report in the Malaysia Star.  The Suezmax tankers, to be built at Samsung Geoje shipyard, will become AET’s first owned Suezmax class vessels. (SOURCE: Malaysia Star)

At the recent ABS Council meeting in N.Y., 40 prominent members of the shipping and offshore industries were elected as new members of the international classification society. The ABS Council also elected two new members to the society’s Technical Committee. “ABS governance is vested in a membership comprised of distinguished individuals drawn from the international shipping, shipbuilding and offshore industries, from academia, the insurance sector and other related disciplines,” said ABS Chairman and CEO Robert D. Somerville. Akimitsu Ashida, President, Mitsui O.S.K. Lines, Ltd. Noel L. Captain Ali M. Belhag, Chairman, GNMTC – General National Maritime Transport Co. Joseph L. Takatoshi Funada, President, Funada Kaiun Co., Ltd. Kevin M.

The members of the Houston Chapter of The Women’s International Shipping and Trading Association have invited the public to attend a luncheon for Rear Admiral Mary Landry Commander of the Eighth Coast Guard District on Tuesday, October 6, 2009, at 12:30 pm at the Sheraton Brookhollow (3000 North Loop West Fwy Houston, Texas 77092). This event is underwritten by AET Inc Limited as well as:BG Americas and Global LNG, Fowler Rodriguez Valdes-Fauli, SeaRiver Maritime Inc., and Texas A&M University at Galveston. RSVP Deborah Lawson at 713 658 3905 or [email protected]. Ticket prices for this event are $25 prepaid and $35 at the door. Register and pay online at: www.lawsonlegal.net/WISTAHouston.html

The members of the Houston Chapter of The Women’s International Shipping and Trading Association have invited the public to attend a luncheon for Rear Admiral Mary Landry Commander of the Eighth Coast Guard District on Tuesday, October 6, 2009, at 12:30 pm at the Sheraton Brookhollow (3000 North Loop West Fwy Houston, Texas 77092). This event is underwritten by AET Inc Limited as well as:BG Americas and Global LNG, Fowler Rodriguez Valdes-Fauli, SeaRiver Maritime Inc., and Texas A&M University at Galveston. RSVP Deborah Lawson at 713 658 3905 or [email protected]. Ticket prices for this event are $25 prepaid and $35 at the door. Register and pay online at: www.lawsonlegal.net/WISTAHouston.html

At the recent Board of Directors and Council meetings of the international classification society ABS, 26 prominent members of the shipping and offshore industries were elected as new members of the society, as well as a new member elected to its technical committee and two corporate officer positions. Mark W. Angela A. Mike J. Dowdy, Vice President of Engineering, Rowan Companies, Inc. Capt. Angeliki N. Frangou, Chairman & CEO, Navios Maritime Holdings, Inc. Aditya Ashok Garware, Vice Chairman & Managing Director, Garware Offshore Services, Ltd. James J. Gaughan, President, James J. Gaughan & Associates Inc. Dr. Ho-Chung Kim, CEO, Daehan Shipbuilding Co., Ltd. Capt. Tae-Jin Kwon, President & CEO, SLS Shipbuilding Co., Ltd. Jong-Ho Lee, President, JINSE Shipbuilding Co., Ltd.

MISC Bhd said its wholly-owned subsidiary AET Inc Ltd has confirmed its order for four 107,500 dwt Aframax tankers from Japan's Tsuneishi Corp for US$260 million. The first tanker will be delivered in 2009 and the remaining three will be delivered in 2010, it said in a statement. MISC, a subsidiary of national oil company Petronas, said the order was in line with AET's commitment to be one of the premier petroleum logistics provider in the world. (Source: www.bernama.com.my)

R&R Marine Fabrication and Drydock has signed an agreement with Pelican Offshore Services Company, Inc. of Galveston, Texas to build four lightering support vessels with an option to build four additional vessels. Pelican Offshore is a wholly owned subsidiary of AET Inc.. Steel for the first of four 185-ft. expected to be cut in April 2007. Delivery of the first vessel is scheduled in June 2008 and will be followed by the remaining three vessels in four-month intervals with the last vessel being delivered in June 2009. these new vessels are delivered. operation as they are completed. In addition to meeting all U.S. to increase crew comfort.

MISC Bhd said its subsidiary AET Inc Ltd has entered into a sale and leaseback agreement of five Aframax tankers from its existing fleet for $185m resulting in $90m gain. The shipping company in a statement on Nov 20 said the sale and lease back is to capitalise on the current buoyant asset environment and release value for reinvesting in new and more efficient tankers. The five tankers MT Quasar, Eagle Centaurus, Eagle Carina, Eagle Corona and Eagle Auriga were built between 1989 and 1993. Source: The Edge