Under the terms of the MoU, AET will choose a shipyard to build the vessels with slated delivery dates of Q4 2025 and Q1 2026. The ships will be delivered to PTT for long-term charters.
The partners will work together on the design, safety and operational aspects of the vessels as well as scoping the necessary reskilling of seafarers before making a final investment decision on the project.
AET said it hopes the initiative will provide a boost to the creation of a green ammonia corridor in Southeast Asia.
Mr Disathat Panyarachun, SEVP, International Trading Business Unit, PTT said: “PTT is very pleased to sign MOU with AET, a member of the MISC Group, for our study to develop the first net-zero emission Aframaxes as we are both aligned that the global shipping community must act now and we see green ammonia powered vessels as one of the pathways to achieve the decarbonisation goals.”
Capt. Rajalingam Subramaniam, AET President & CEO and MISC Group COO, said: “This MOU signing marks another significant milestone in our growing partnership with PTT as we both place great importance on driving the shipping decarbonisation journey ahead of 2050.
“For us, this collaboration with PTT will be complementary to the Castor Initiative, a multinational coalition championed by MISC and its Castor partners committed to make zero-emission in shipping a reality.
With these latest net-zero vessels, AET is contributing further to the development of sustainability shipping to meeting the IMO’s 2030 Greenhouse Gas (GHG) intensity reduction agenda and our commitment across the MISC Group to net-zero GHG emissions by 2050.”
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