- The deep-sea tanker vessel, which will be powered by green ammonia, represents the latter’s sustainable shipping option.
- This MOU marks a further positive step to advance AET and MISC Group’s 2030 and 2050 strategic decarbonization aspirations for shipping.
- Both parties also intend to collaborate on design, safety, and operational aspects as well as to study opportunities for a green ammonia corridor in Southeast Asia.
AET has announced that it signed a Memorandum of Understanding (MOU) with PETCO Trading Labuan Company Ltd (PTLCL) to explore a potential collaboration to deploy a future zero-emission Aframax.
Zero-emission aframax vessel
The deep-sea tanker vessel, which will be powered by green ammonia, represents the latter’s sustainable shipping option and another significant step forward in the push towards more sustainable shipping practices.
Capt. John Baptist, Global Director VLCC/PCS, AET and Head, Decarbonization Unit, MISC said: “We are pleased to extend our partnership with PTLCL to explore the potential development and construction of one net-zero green ammonia Aframax as we both continue our decarbonization journey to advance towards a net zero future.”
Positive step in strategic decarbonization
“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.”
AET’s responsibilities
AET’s responsibilities would include the selection of a suitable shipyard to build the zero-emission dual-fuel tanker which both parties anticipate would be delivered to PTLCL for long-term charters by 2026.
Both parties also intend to collaborate on design, safety, and operational aspects as well as to study opportunities for a green ammonia corridor in Southeast Asia, in support of International Maritime Organization’s greenhouse gas intensity reduction agenda.
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Source: Safety4Sea
