AET and PTT agree development of ammonia-fuelled aframaxes

AET, the tanker arm of Malaysia’s top shipping line MISC, has penned a memorandum of understanding (MOU) with Thailand’s largest state-owned, multinational energy company, PTT for the development and construction of two ammonia-fuelled aframaxes.

Under the deal, AET will select a suitable shipyard for the pair of zero-emission dual-fuel tankers with deliveries to PTT for long-term charters in the fourth quarter of 2025 and the first quarter of 2026.

AET in April together with South Korean shipbuilder Samsung Heavy Industries and class society Lloyd’s Register, formed the Castor Initiative to develop two very large crude carriers (VLCCs) which can be operated on green ammonia. The company said the agreement with PTT would complement the initiative, which also includes MAN Energy Solutions, the Maritime and Port Authority of Singapore, Yara and Jurong Port, in its plans to have the first of these dual-fuel tankers enter into service in late 2025.