AET

Operations: Global owner-operator of a fleet of petroleum vessels providing high quality ocean transport solutions and lightering services for the world’s oil companies and trading houses.

Fleet: 13 VLCCs, four Suezmax, 54 Aframax, two DP Shuttle Tankers, one Panamax and five CPP tankers.

Newbuildings: Two VLCCs and two DP Shuttle Tankers are due to join the fleet in the period until 2015.

Lightering: A comprehensive lightering operation based in Galveston, Texas occupying the leading share of the US Gulf ship-to-ship transfer business. The first of four new pioneering lightering support vessels (LSV) was delivered in 2011, with the remaining three delivered in 2012.

People: Employer of approximately 2,900 seagoing personnel and nearly 400 shore-based staff. 575 AET cadets are currently training and around 150 join the company each year on a fully sponsored basis.

Financials: Group revenue (nine months ended 31 December 2011) of US$711.6 million with an asset base of approximately US$3.2 billion.

Presence: Headquartered in Kuala Lumpur with shared corporate functions in London, four commercial operational centres in Houston, London, Singapore and Gurgaon (India). Shipmanagement centres in Singapore, Houston and Gurgaon. Crewing and manning offices in India and the Philippines with a representative office in the Ukraine.

Ownership: Wholly owned subsidiary of MISC Bhd, a leading global shipping and energy logistics company.

History: Founded as American Eagle Tankers by NOL in 1994. Acquired by MISC in 2003 and rebranded as AET in 2007.

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Last updated on 1 June 2013.