MISC’s AET tanker unit wins Brazil shuttle tanker deal with Shell

AET, the petroleum logistics unit of Malaysia’s MISC, has won its first contract with Shell in Brazil to time charter one new-build dynamic positioning (IMO Class 2) shuttle tanker (DPST). No length of contract or financial details were disclosed.

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.

"MISC Group's wholly-owned subsidiary, 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. I would like to congratulate AET on yet another achievement on a new client for their DPST portfolio," said Yee Yang Chien, MISC president/group ceo and chairman of AET.

Mark Quartermain, vp 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."

Read More: AET seals Petrobras deal for another four shuttle tankers

The 152,700 dwt DP2 vessel will be built by a Korean shipyard with delivery expected in the fourth quarter of 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 president and ceo Rajalingam Subramaniam concluded: "We are fast making our name in the dynamic positioning sector. 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." 

"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," he added.

Posted 20 August 2018

© Copyright 2019 Seatrade (UBM (UK) Ltd). Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Seatrade.

Vincent Wee

Asia Editor, Seatrade Maritime News

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