The Petroleum Authority of Thailand (PTT) and AET have signed a memorandum of understanding (MoU) for the development and construction of two zero-emissions Aframax tankers to be powered by green ammonia, reports Riviera.
About the MOU
AET will select a suitable shipyard and the two zero-emissions dual-fuel tankers are to be delivered to PTT for long-term charters in Q4 2025 and Q1 2026 respectively.
The two companies have stated that the MoU sets another clear signal of PTT’s and AET’s commitment to reduce greenhouse gas (GHG) emissions from international shipping as energy efficiency improvements alone will not be sufficient.
PTT senior executive vice president, international trading business unit, Disathat Panyarachun said, “PTT is very pleased to sign this MoU with AET, a member of the MISC Group, for our study to develop the first net-zero emissions Aframaxes, as we are both aligned that the global shipping community must act now and we see green ammonia-powered vessels as one of the pathways to achieving decarbonisation goals.”
Benefits
He added, “This latest partnership underscores PTT’s vision of ’Powering Life with Future Energy and Beyond’ and the great importance we place on the development towards a low-carbon society and investment in clean energy, as well as our long-term strategy to achieve carbon neutrality and net-zero GHG emissions.”
AET president and chief executive and MISC Group chief operating officer Capt Rajalingam Subramaniam said, “This MOU signing marks another significant milestone in our growing partnership with PTT as we both place great importance on driving the shipping decarbonisation journey ahead of 2050.”
He added, “Our collaboration with PTT also goes beyond these first two net-zero green ammonia-powered Aframaxes. As like-minded partners, this MOU provides an avenue to work together on the design, safety and operational aspects, and reskill mariners prior to the potential investment in this innovative project to meet the 2050 environmental agenda. With these latest net-zero vessels, AET is contributing further to the development of sustainabile shipping to meeting IMO’s 2030 GHG intensity reduction agenda and our commitment across the MISC Group to net-zero GHG emissions by 2050.”
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Source: Riviera
