AET ordering pair of LNG dual-fuel VLCCs for Total charter

Singapore-based Malaysian tanker owner AET has sealed an agreement with Total’s Chartering and Shipping Services for the time charter of two LNG dual-fuel VLCCs.

The two newbuilds will be powered by LNG and will emit around 20% less CO2 than conventional vessels, 85% less NOx and 99% less SOx, AET said.

AET, which currently has 12 VLCCs in its fleet, did not reveal which yard it has ordered the new vessels from. According to shipbroking reports, the order went to South Korea’s Samsung Heavy Industries for low $100m each, dependant on final specifications.

Captain Rajalingam Subramaniam, president and CEO of AET, said: “AET is investing to build efficiency in our partners’ energy logistics activities and this includes assisting them to meet their environmental targets. Today’s collaboration is a further example of our commitment towards environmental, social and corporate governance as well as the UN sustainable development goals. We were among the industry leaders in building and operating LNG-powered aframax vessels and dynamic positioning shuttle tankers and these two new ships will be our first LNG dual-fuel VLCCs.”

Deliveries are scheduled from the first quarter of 2022.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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