Wednesday, April 10, 2024
Home Cargo PTT, AET Pen MoU to Build Zero-Emission Aframaxes

PTT, AET Pen MoU to Build Zero-Emission Aframaxes

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Thai national energy company, PTT and tanker operator AET have signed a Memorandum of Understanding (MOU) for the development and construction of two zeroemission Aframaxes to be powered by green ammonia.

Jointly, PTT and AET working to encourage the use of green ammonia as a main propulsion fuel. AET will select a suitable shipyard and the two zeroemission dualfuel tankers are to be delivered to PTT for longterm charters in Q4 2025 and Q1 2026 respectively.

Disathat Panyarachun, SEVP, International Trading Business Unit, PTT: “PTT is very pleased to sign MOU with AET, a member of the MISC Group, for our study to develop the first netzero emission Aframaxes as we are both aligned that the global shipping community must act now and we see green ammonia powered vessels as one of the pathways to achieve the decarbonisation goals.

This latest partnership underscores PTT’s vision of Powering Life with Future Energy and Beyond and the great importance we place on the development toward low carbon society and investment in clean energy as well as our longterm strategy to achieve carbon neutrality and net zero
Greenhouse Gas (GHG) emissions.”

Capt. Rajalingam Subramaniam, AET President & CEO and MISC Group COO, said: This MOU signing marks another significant milestone in our growing partnership with PTT as we both place great importance on driving the shipping decarbonisation journey ahead of 2050Our collaboration with PTT also goes beyond these first two netzero green ammonia powered Aframaxes

“As likeminded partners, this MOU provides an avenue to work together on the design, safety and operational aspects as well as reskilling of mariners as part of the deliverables prior to the potential investment in this innovative project to meet the 2050 environmental agenda earlier than later. Providing the muchneeded boost to create  a green ammonia corridor in Southeast Asia would be another desired outcome of this MOU. 

For us, this collaboration with PTT will be complementary to the Castor Initiative, a multinational coalition championed by MISC and its Castor partners committed to make zeroemission in shipping a reality

With these latest netzero vessels, AET is contributing further to the development of sustainability shipping to meeting the IMO’s 2030 Greenhouse Gas (GHG) intensity reduction agenda and our commitment across the MISC Group to netzero GHG emissions by 2050.”

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