The charter contracts with PTLCL were signed at the same time that MISC tanker arm AET inked contracts with Dalian Shipbuilding Co Ltd (DSIC) to build the ammonia dual-fuelled Aframax tankers.
The contracts come 14 months after AET and PTLCL signed a Memorandum of Understanding (MoU).
“Today's signing of the Time Charter Party Contracts and the Shipbuilding Contracts is a clear testament of turning ambition into action,” said Captain Rajalingam Subramaniam, President and Group CEO of MISC.
The company did not disclose the delivery date for the ammonia dual-fuel newbuildings ordered at the yard which is part of the CSSC group.
Both the shipowner and charterer are part of Malaysian national oil and gas group Petronas.
Zahid Osman, President & CEO of AET said, “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 decarbonisation of the shipping sector.”
AET has been a pioneer and in owning and operating LNG dual-fuel large tankers and is now taking on a similar role with ammonia as a marine fuel.
MISC said it would look to further collaboration with industry players for ammonia bunkering as well as Akademi Laut Malaysia (ALAM) and industry partners for the training of seafarers.
As developments push ahead with ammonia as a marine fuel safety remains a primary concern given the high toxicity of the fuel.
AET and ALAM inked an agreement with engine manufacturer WinGD on training for ammonia fuelled engines in June 2023. WinGD expects to deliver its first ammonia dual-fuel engines in 2025.
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