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 traders.

Fleet: 11 VLCCs, 54 aframax vessels, 1 suezmax, 1 panamax and 10 product tankers.

Newbuildings: 9 aframax vessels, 4 VLCC, 4 suezmax, 2 product and 2 DP Shuttle tankers,  are due to join the fleet in 2010 and 2012.

Lightering: A comprehensive lightering operation based in Galveston, Texas occupying the leading share of the US Gulf ship-to-ship transfer business. A new support facility and two new workboats are to be commissioned in 2010.

People: Employer of approximately 2,900 seagoing personnel and 300 shore-based staff. 600 AET cadets are currently training and around 150 join the company each year on a fully sponsored basis.

Financials: Group revenue (year end 31 March, 2010) in excess of US$888.8 million with an asset base of approximately US$2.6 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 and Kuala Lumpur. Crewing and manning offices in India and the Philippines.

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 2006.

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Last updated on 11 August 2010.