AET and Shell Sign DPST Contract

Shuttle tanker owner AET, a wholly-owned subsidiary of  Malaysia's MISC Group, has won its first contract with Shell in Brazil to time charter one new-build dynamic positioning shuttle tanker (DPST).

AET earlier this year sealed a long-term charter for two newbuild LNG-fuelled Aframax tankers with Shell that is set to begin in the fourth quarter of this year.

AET President & CEO Capt. Rajalingam Subramaniam said: “Shell has chosen to use our shipping services for many years and we were happy when the company opted to charter our two newbuild LNG dual-fuelled Aframax vessels on long-term charter earlier this year. But this is the first time we’ve contracted with Shell to build and operate a dynamic positioning shuttle tanker. I would like to thank Shell for their confidence in and continuing support to AET."

Rajalingam added: "My team and I are proud of this DPST contract award. We have a solid plan to build upon our successes in this portfolio supported with good Heath, Security and Environment (HSE) standards and operational excellence which will be the cornerstone of our sustainability journey. It is also a further manifestation of our drive to consistently provide better energy-related maritime solutions and services for our global customers.”

"AET delivers world class petroleum shipping services and I am delighted to see this re-affirmed with a new contract from Shell. AET’s strategy of focusing on high-quality, high-entry, specialist services such as dynamic positioning, is paying dividends. Developing these niche services adds even greater breadth to MISC Group’s four core business segments of LNG Shipping, Petroleum Shipping, Offshore Business and Marine & Heavy Engineering and ensures that we are developing solutions for the evolving energy industry. I would like to congratulate AET on yet another achievement on a new client for their DPST portfolio,” said Yee Yang Chien, President/Group CEO of MISC Berhad and Chairman of AET.

Mark Quartermain, Vice President of Shell Trading and Supply Crude said: “Adding AET’s dynamic positioning vessel to our operations in Brazil supports our growing deep-water activities. It achieves this by providing us with increased flexibility for our crude trading business as we look to serve our global customers with Brazil’s growing offshore production. We look forward to building upon our relationship with AET to support our crude trading operations.”

The 152,700 DWT DP2 vessel will be built by a Korean shipyard expected for delivery in Q4 2020 and, although earmarked for Brazilian waters, the vessel will be capable of operating globally. It will be compliant to IMO NOx Tier 3 requirements, built to the latest and highest technical standards and installed with a ballast water treatment system.

The vessel will be equipped with high-power thrusters, generators and the latest position reference system fully capable of operating in harsh weather conditions.