Malaysia’s MISC Group has entered into time constitution get together (TCP) and shipbuilding contracts for the event of world’s first two ammonia dual-fuel Aframax oil tankers.
The TCP contract has been signed with Petronas’ PETCO Trading Labuan Company (PTLCL), by means of MISC Group’s petroleum arm AET.
Using these vessels, PTLCL will be capable to transport its merchandise to clients all over the world whereas contributing to the trade decarbonization by using ammonia because the cleaner different to traditional gas.
AET additionally signed the shipbuilding contracts for the vessels with Dalian Shipbuilding Industry, a subsidiary of China State Shipbuilding Corporation
The signing of the contracts represents a big step ahead within the companions’ efforts to make ammonia a viable gas for the maritime trade.
An Aframax vessel is an oil tanker with a deadweight between 80,000 and 120,000 metric tonnes.
“Congratulations to AET and PTLCL for reaching a significant step of materialization today since the signing of the memorandum of understanding in February 2023. It’s been made more meaningful, collaborating with PTLCL, a member of the Petronas Group,” mentioned Rajalingam Subramaniam, President and Group CEO of MISC Group.
“With today’s signings of the shipbuilding contracts with Dalian Shipbuilding Industry and the time charter party contracts with PTLCL for the world’s first two ammonia dual-fuel Aframaxes, we take concrete actions to deliver on our commitment as industry leaders to progress the decarbonization of the shipping sector.
“The introduction of these two vessels will reduce the overall emissions from our operations whilst we deliver more energy for the world,” added Zahid Osman, President and CEO of AET.
