MISC Berhad, a Malaysian company, has signed contracts for the world’s first dual-fuel Aframaxes powered by ammonia through its tanker subsidiary, AET. The Time Charter Party Contracts (TCP) with PETCO Trading Labuan Company Ltd (PTLCL) will see the vessels operate under their management. Additionally, AET has contracted with Dalian Shipbuilding Industry (DSIC) to build the two ships as part of efforts to promote ammonia as a sustainable fuel in the maritime industry.
These contracts mark a significant milestone in the maritime sector’s transition towards decarbonization. Captain Rajalingam Subramaniam, President and Group CEO of MISC, praised AET and PTLCL for achieving this milestone since agreeing to a Memorandum of Understanding in February 2023. Zahid Osman, President and CEO of AET, emphasized the company’s commitment to leading the industry in accelerating the shift towards sustainable shipping practices through these signings.
By investing in ammonia-fueled vessels, MISC and AET are demonstrating their dedication to reducing emissions and aligning with global efforts to combat climate change. The partnerships with PTLCL and DSIC reflect a strategic approach to sustainable shipping solutions, with a focus on utilizing ammonia as an environmentally friendly fuel source. This bold move represents a significant step forward in promoting cleaner energy alternatives in the maritime industry.
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