World’s First Ammonia Dual-Fuel Aframaxes to be Developed by AET

A 3D model of two of the world’s first ammonia dual-fuel Aframaxes to be constructed by Dalian Shipbuilding and owned by AET. Illustration courtesy of AET.

AET, a subsidiary of Malaysia’s MSIC Berhad, has signed contracts for the world’s first two ammonia dual-fuel Aframaxes. The deal includes Time Charter Party Contracts with PETCO Trading Labuan Company Ltd (“PTLCL”) for vessel operation. PTLCL will transport its products to customers globally while contributing to industry decarbonization by utilizing ammonia as the cleaner alternative to conventional fuel. 

AET also signed the Shipbuilding Contracts for the two vessels with Dalian Shipbuilding Industry Co., Ltd. ("DISC"), a subsidiary of China State Shipbuilding Corporation.

These contracts represent a significant step forward in the partners’ efforts to make ammonia a viable fuel for the maritime industry.

“With today’s signings of the Shipbuilding Contracts with DSIC and the Time Charter Party Contracts with PTLCL for the world’s first two ammonia dual-fuel Aframaxes, we take concrete actions to deliver on our commitment as industry leaders to progress the decarbonization of the shipping sector,” said Zahid Osman, president & CEO of AET. “The introduction of these two vessels will reduce the overall emissions from our operations whilst we deliver more energy for the world. 

I would like to thank PTLCL and DSIC for their forward thinking and collaboration to spearheading this new generation of ultra-low emissions tankers to support the decarbonization of the maritime industry.”