- In a groundbreaking move towards decarbonizing the maritime industry, MISC’s petroleum arm, AET, has entered into Time Charter Party Contracts (TCP) with PETCO Trading Labuan Company Ltd (PTLCL) for the development of the world’s first two ammonia dual-fuel Aframaxes.
- These vessels will transport products globally while utilizing ammonia as a cleaner alternative to conventional fuel, contributing to industry decarbonization efforts.
The TCP contracts were signed by Mr. Zahid Osman, President & CEO of AET, and Mr. Shamsul Bahari Salleh, CEO of PTLCL, in the presence of Captain Rajalingam Subramaniam, President and Group CEO of MISC, and Mr. Ahmad Adly Alias, Chairman of PTLCL. The Shipbuilding Contracts for the vessels were signed with Dalian Shipbuilding Industry Co., Ltd (DSIC), a subsidiary of China State Shipbuilding Corporation (CSSC).
Turning Ambition into Action
Captain Rajalingam Subramaniam expressed congratulations to AET and PTLCL for their significant progress, highlighting the collaboration’s meaningful impact. He commended MISC Marine and New Energy & Decarbonization for their role in bringing the vision to life, emphasizing the alignment with the collective vision of driving global change towards a net-zero future.
Commitment to Decarbonization
Zahid Osman reiterated AET’s commitment to decarbonizing the shipping sector, emphasizing the reduction of overall emissions while delivering energy for the world. He thanked PTLCL and DSIC for their collaboration in spearheading this initiative and highlighted the importance of industry leaders taking concrete actions to progress decarbonization efforts.
Advancing Sustainable Practices
This achievement represents a significant leap forward in sustainable shipping practices, showcasing MISC Group’s commitment to innovation and environmental responsibility. The collaboration aims to develop the ecosystem required to support ammonia as a bunker fuel and continues to train seafarers to safely manage ultra-low emissions tankers.
Leading the Charge in Sustainability
MISC Group looks forward to leading sustainable maritime transportation and pushing the boundaries of what is possible in the industry. The development of ammonia dual-fuel Aframaxes marks a significant milestone in the journey towards a greener and more sustainable maritime future.
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Source: AET
