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With two different press releases at the beginning of April, AET, the shipping company of the Malaysian MISC Group, provider of maritime energy logistics services, and Chartering and Shipping Services SA, of the Total Group, have announced an agreement for the construction and temporary rental of two dual-fuel VLCC (Very Large Crude Carriers) with main use of LNG. The two new ships are expected to be delivered to AET and then to Total from the first quarter of 2022.
The two oil tankers will be able to transport about 300 thousand tons of crude oil each and will be the first to be fueled by LNG both of the fleet leased by Total and of the global fleet managed by AET. VLCCs, so called in the range between 180 and 320 thousand tons, can cross the canals of Suez and Panama.
The ships comply with IMO Tier III, IMO 2020 sulpholf cap and represent a step forward to reduce carbon emissions by 50% by 2050 from a 2008 base decided by the IMO (International Maritime Organization, UN agency ).
AET was among the first shipowners to introduce LNG tankers to its global fleet, with two Aframax (with capacity between 80 and 120 thousand tons of oil) and two dynamically positioned tankers (maintained on the site by satellite).
Total is the second private LNG operator, with a total portfolio of around 50 Mt per year and expects to have a 10% world market share by 2025. Through the Marine Fuels Global Solutions business unit, it is able to carry out bunkering activities all over the world.
In presenting the initiative, Yee Yang Chien, President and CEO of the MISC Group said: "Today's agreement consolidates our global position as a world-class provider of energy logistics services. We subscribe to a solid sustainability agenda that reaches everyone the corners of our business. The agreement with Total takes us one step further. As a group, we made timely and courageous decisions to invest in dual-fuel LNG ships and I am delighted to see the sector respond so positively to our strategy. I am delighted with the agreement with Total and would like to thank them for their trust in AET. "
Luc Gillet, senior vice president of Total Shipping & Trading commented: "Total is committed to providing energy safely while reducing its impact on the natural environment and we continuously explore all elements of our business, including our supply chain partners. , to guarantee minimum emissions. We are looking for partners who share this commitment and I am delighted that AET continues to innovate and adopt a leadership approach to operate as cleanly as possible. We have been working with AET for many years and this agreement is a logical step in the continuity of our relationship. LNG is the best and immediately available solution to reduce the environmental footprint of shipments. With this decision, we reaffirm our positive contribution to a sustainable maritime industry and our commitment to extend the use of LNG as fuel for a clean sea. "
The cap. Rajalingam Subramaniam, President and CEO of AET, added: "We were among the first in the construction and management of LNG-powered ships and these two new ships will be our first VLCCs with this fuel. I would like to thank Total for collaborating on this innovative environmental solution and for promoting our relationship in many segments of our business. Total has joined a select group of energy majors who have shown significant leadership in reducing the carbon footprint of safe and environmentally friendly energy transport."
Source: AET (Gruppo MISC) - TOTAL
