Tankers: Shell signs time-charter deal with AET for two LNG dual-fueled Aframaxes - Shipping

Singapore (Platts)--13 Apr 2018 743 am EDT/1143 GMT

Malaysian tanker operator AET Tankers and Shell have formalized arrangements for the long-term charter of AET's two newbuild LNG dual-fueled Aframax tankers commencing in Q4 2018."These two LNG fueled vessels will help Shell Trading move crude, principally in the Atlantic basin. LNG is a credible marine fuel and will play an important role in our fleet as we introduce cleaner and more efficient vessels. As emissions standards tighten we continue to work with forward thinking companies like AET to support lower emission transportation solutions," said Mark Quartermain, vice president of crude trading and supply at Shell, in a statement released by AET Thursday.AET's two 113,000 dwt vessels are currently being built by Samsung Heavy Industries in South Korea and are due for delivery from Q3 2018.When operating in gas mode, these LNG dual-fueled tankers would emit up to 30% less CO2, 85% less NOx, 99% less SOx and 95% less particulates.Both tankers will be Malaysian-flagged.In early April, AET announced it would equip up to four Aframax newbuilds with the LNG dual-fuel option. AET's orderbook also includes two Suezmaxes and two Long Range 2 tankers.In the light of coming regulatory changes on bunker fuel, LNG is considered to be a viable alternative to heavy fuel oil. From 2020, all shipping will be required to use fuel with a maximum of 0.5% sulfur.In June 2017, AET was awarded a contract to build and operate two LNG dual-fuele....

read more from platts.com