AET, the petroleum arm of MISC Group, has signed a memorandum of understanding (MoU) with PETCO Trading Labuan Company Ltd (PTLCL), an indirect wholly-owned unit of Petronas, to explore a potential collaboration for deploying a future zero-emission ammonia-powered Aframax.
For AET, this MoU for the potential development and construction of one deep-sea tanker vessel powered by green ammonia represents another opportunity to advance its decarbonisation aspirations. Similarly, PTLCL sees the vessel as a sustainable shipping option.
As part of the partnership, 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 the International Maritime Organisation’s (IMO) greenhouse gas (GHG) intensity reduction agenda.
John Baptist , Global Director VLCC/PCS, AET and Head, Decarbonisation 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 decarbonisation journey to advance towards a net zero future.”
Baptist remarked that this partnership marks a further positive step to advance AET and MISC Group’s 2030 and 2050 strategic decarbonisation aspirations for shipping.
It also adds to the pair of zero-emission ammonia-fueled deep-sea tanker vessels under the Castor Initiative and AET’s collaboration with PTT for two zero-emission Aframaxes which were both announced last year.
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