AET announces contract for DP Suezmax tanker with Shell

AET has agreed its first contract with Brazil Shipping Limited 1 to timecharter one newbuild dynamic positioning (DP) shuttle tanker in Brazil.

The 152,700 DWT DP2 tanker 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.

"AET's strategy of focusing on high-quality, high-entry, specialist services such as dynamic positioning, is paying dividends." said Mr Yee Yang Chien, president/group chief executive of MISC Berhad and chairman of AET.

Shell Trading and Supply Crude vice president Mark Quartermain 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."

On signing the contract, AET president and chief executive Capt Rajalingam Subramaniam said:“We have two dynamic positioning tankers (DPSTs) already operating in the Brazilian Basin for Petrobras and another two operating in the North and Barents Seas for Equinor (formerly Statoil). A further two DPSTs are being built for Equinor to operate in oilfields on the Norwegian Continental Shelf of the North Sea, Norwegian Sea and the southern Barents Sea as well as on the UK Continental Shelf. Our two modular capture vessels in the Gulf of Mexico also have dynamic positioning capability. In addition to today's contract, we have a further four dynamic positioning vessels currently being built to take-up long-term charters for Petrobras."

Business, operational and technical issues impacting the crude, product and chemical tanker trades will be discussed at the Tanker Shipping & Trade Conference, Awards & Exhibition, 20-21 November 2018 in London.

Calendar alert: Tanker Shipping & Trade Conference, Awards and Exhibition – 20-21 November 2018