AET and PTLCL sign MOU for zero-emission Aframax

AET announced the signing of the Memorandum of Understanding (MOU) with PETCO Trading Labuan Company Ltd (PTLCL) to explore a potential collaboration to deploy a future zero-emission Aframax. The deep-sea tanker vessel, which will be powered by green ammonia, represents the latter’s sustainable shipping option and another significant step forward in the push towards more sustainable shipping practices, according to the company's release.

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 International Maritime Organization’s greenhouse gas intensity reduction agenda.