About Us

OVERVIEW

AET is a leading global owner and operator of crude and clean petroleum tankers. We consistently strive to deliver safe, innovative and high-quality maritime logistics solutions. Alongside the provision of conventional energy shipping services, we are market leaders in the operation of specialist ship-to-ship lightering services in the US Gulf and Latin America as the trusted partner of the world’s leading oil companies, refineries and petroleum traders.

We have offices and presence in Singapore, Malaysia, United States of America, United Kingdom, Brazil, Norway and Uruguay.

We are the petroleum and product shipping arm of MISC Group and are proud to play our role by providing maritime transportation solutions to meet the energy needs of the world. MISC Marine, our technical and shipmanagement arm provides a comprehensive range of integrated marine services.

VISION & MISSION

To consistently provide better energy related maritime solutions and services

To exceed the expectations of our customers
To promote individual and team excellence of our employees
To create a positive difference to the lives of communities
To care for the environment and operate responsibly
To drive sustainable value for our shareholder

AET AT A GLANCE

Financial (US$)

0 M

Revenue

0 M

EBITDA**

0 M

Total Assets

Assets (as of 30 April 2024)

0.3

Average Age of Our Fleet vs 12.7 Industry Average

LNG dual-fuel Very Large Crude Carrier (VLCC) Newbuilds Delivered in 2023/2024

0+4*

Dual-Fuel Assets

Aframax

2 DPST

2 VLCC

5 Newbuilds

4*

0+4*

Vessels

World’s Only

Owner-Operator of MCVs

Operational Excellence

>0%

Vessel Availability & Vessel Utilisation

Ship-to-ship (STS) Transfers in US Gulf since Inception

Human Capital (Onshore)

Nationalities

Number of Staff

Male

Female

World's First Ammonia Dual-Fuel Aframaxes

Shipbuilding and long-term Time Charter Party (TCP) contracts signed in 2024

Awards and Recognition

vessels received Chamber of Shipping of America (CSA) Jones F. Devlin Award for Safety

vessels received CSA Annual Environmental Achievement Award

Health, Safety and Environment (HSE)

Total Scope 1^{^} Absolute Greenhouse Gas (GHG) Emissions Reduction in 2023 compared to 2008

Total Scope 1^{^} AERCO₂e^# Reduction in 2023 compared to 2008

Total Scope 1^{^} AERCO₂e^# Reduction in 2023 Year-on-Year (Y-o-Y)

0.17

Lost Time Injury Frequency (LTIF)

0.25

Total Recordable Case Frequency (TRCF)

Information correct as of 31 December 2023 unless otherwise stated
*Two owned ammonia dual-fuel Aframax newbuilds and two signed in-chartered newbuild contracts for LNG dual-fuel Aframaxes
** Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA)
^ For detailed description on what Scope 1 entails, refer to “Towards Decarbonisation” section under the Environment Sustainability Pillar on page 64
# AERCO₂e: Annual Efficiency Ratio Carbon Dioxide Equivalent

Chairman, Independent Non-Executive Director

Datuk Abu Huraira Abu Yazid

Datuk Abu Huraira Abu Yazid was appointed as Chairman of AET and Independent Non-Executive Director on 22 April 2024.

He is currently the Chairman and Director of Pembangunan Sumber Manusia Berhad. Other present appointments include Chairman at Pusat Rehab PERKESO Sdn. Bhd., Malaysian Maritime Academy Sdn. Bhd.

Datuk Abu Huraira Yazid was previously on the Board of United Overseas Bank (M) Berhad including Chairman of its Board Risk Management Committee and its Board Remuneration Committee. He was the Chairman of the Social Security Organisation, Executive Director with Pos Malaysia Berhad and CEO of National Savings Bank while earlier in his career, held senior positions in Public Bank Berhad, Citibank Berhad, Chase Manhattan (now known as JP Morgan Chase) and Maybank.

He holds a Bachelor of Economics (Business Management) from the University of Malaya.

President & CEO, Non-Independent Executive Director

Zahid Osman

Zahid Osman was appointed President & CEO of AET on 1 June 2023. Effective 16 August 2024, President & Group Chief Executive Officer and Non-Independent Executive Director of MISC Berhad. He was previously the Vice President of Corporate Planning at MISC Berhad (2022-2023) and Vice President of MISC Berhad’s Gas Assets & Solutions (2017-2021).

Prior to MISC Berhad, Zahid was with the Shell Group of Companies for over 20 years. At Shell, Zahid held management roles in finance, LNG marketing and trading, business development, commercial, upstream production sharing contract, stakeholder management, joint venture governance, gas advocacy and project management in upstream, downstream, integrated gas and trading businesses. His last held appointment at Shell was Vice President of Venture Development at Shell Integrated Gas & New Energies.

Zahid holds a Master in Business Administration from the University of Chicago Booth School of Business, USA and a degree in Industrial Economics from the University of Nottingham, UK. He also attended the Management Programme on Strategy Creation at Columbia Business School, USA.

Independent Non-Executive Director

Datuk Nasarudin Idris

Datuk Nasarudin Md Idris has served on AET Board since 15 June 2010. Datuk Nasarudin was previously a Non-Independent Non-Executive Director of MISC (2015-2017) and President/Group CEO of MISC Berhad (2010-2014).

Prior to joining MISC Berhad, Datuk Nasarudin held various key roles at the PETRONAS Group including board membership, Vice President of Corporate Planning and Development, Senior General Manager of the Corporate Planning and Development Division, Executive Assistant to the President of PETRONAS, General Manager of Corporate Development and General Manager of Group Strategic Planning. He was also General Manager of Marketing at PETRONAS Dagangan Berhad and Group CEO of KLCC Holdings Berhad.

Datuk Nasarudin holds a Bachelor of Arts (Honours) from the University of Malaya, Malaysia, and a Master’s degree in Business Administration (awarded by Brunel University) from Henley Management College, UK. He also attended the Stanford Executive Programme at Stanford University, USA.

Independent Non-Executive Director

Ronald Bruce Blakely

Ronald enjoyed a 38-year career with Shell, where he contributed in senior finance roles. He also served as a non-executive director on various boards in the oil and gas industry and services sector, held board appointments in several joint venture companies in different fiscal jurisdictions and supported the boards of not-for-profit organisations as a volunteer.

Ronald is a professional accountant with a CPA designation from the Chartered Professional Accountants of Alberta.

Independent Non-Executive Director

Vice Admiral (RTD) Peter Neffenger

Vice Admiral (Rtd) Peter Neffenger was appointed as a Director of AET on 15 November 2019. He also sits on several Advisory Boards in both public and private sectors within the USA.

Prior to these roles, Vice Admiral (Rtd) Neffenger had a distinguished 34-year career in the US Coast Guard (1981-2015). He also served as Administrator of the US Transportation Security Administration (2015-2017).

Vice Admiral (Rtd) Neffenger holds a Master of Public Administration from Harvard University, USA; a Master of Arts in National Security and Strategic Studies from the US Naval War College; a Master of Arts in Business Management from Central Michigan University; and a Bachelor of Arts from Baldwin Wallace University, USA.

Independent Non-Executive Director Chairman, Audit, Risk & Sustainability Committee

Colin Low

Colin Low has been appointed Director of AET since 15 November 2019. He is concurrently the Independent Director for Kacific Satellites Group Limited, a space and satellite telecommunications company; Board Director of private equity firm BLG Asia; member of the INSEAD Director Network (2013-present): and Risk Committee Chair and Independent Director to Jason Marine Group listed on the Singapore Stock Exchange. In January 2022, Colin was appointed as the Advisory Board Member to the Diligent Institute in New York, USA, a think tank in Corporate Governance ESG and Climate Change global practices.

Colin was previously the Investment Board Director of Fortune 500 firm GE (General Electric, USA) for the Asia Pacific Region (2005-2010): President of GE International and Regional Executive of Growth Initiatives in the ASEAN region; Chairman and Investment Committee Chair of mainboard listed Intraco Limited (2014-2021). He served as the Managing Director of GE Aircraft Engines ASEAN in his earlier career at GE; Chairman of private equity firm Singapore Investment Development Corporation (2011-2020). He was a member of the INSEAD University ASEAN Council (from 2008-2022). He proudly served as the US National Board Director of the Cancer Treatment Centers of America (2011-2018); Vice-Chairman of the American Chamber of Commerce in Singapore (2008-2014); Independent Director of OSIM International (2010-2016), and a member of the Advisory Board Asia Pacific to global executive search firm, Spencer Stuart International.

Colin is a Lifetime Fellow of the Singapore Institute of Directors and attained certification as an International Board Director in 2013 and Leading from the Chair in 2014 from the INSEAD University in Fontainebleau, France. He was conferred as a Fellow of the Hong Kong Institute of Directors in March 2021. In April 2022, he attained certification on the Diligent Climate Change Leadership programme. He holds a Master of Business Administration, a Bachelor of Science in Management (Honours) and a Bachelor of Science in Marketing (Honours) from the Southern Illinois University, USA.

Independent Non-Executive Director

Paula Porter

Paula Porter was appointed as a Director of AET on 1 January 2020.

She was previously the Chief People Officer of Carnival UK (2012-2019) overseeing HR across Asia, Europe and USA; Divisional HR Manager of B&Q (2003-2007); HR Director of The Body Shop in UK and Ireland (2001-2005); General Manager of Canadian Pacific (1999-2001); and Divisional Personnel Manager of Marks & Spencer (1984-1999).

Paula holds a Fellowship from the Chartered Institute of Personnel and Development (CIPD). She is a qualified senior coach in Business Development and Change Management and a certified Myers-Briggs assessor and coach with accreditations from CIPD. She has also attended the Institute of Directors’ Finance for Non-Financial Directors programme.

EXECUTIVE LEADERSHIP TEAM

President & CEO, AET | President & Group Chief Executive Officer, MISC Berhad

Zahid Osman

Global Director, HR & Facilities Management

Linda Murray

Linda has over 20 years of experience as a HR practitioner in several blue-chip multinationals, non-governmental organisation and offshore contractors with experience working in Middle East, Asia and Europe.

She brings with her a wide spectrum of knowledge and expertise on corporate human capital development practices. These range from the formulation of diversity and inclusion strategies, and values and culture-change initiatives, to the development of change management programmes and HR strategies and policies. Linda has an MBA from the University of West London.

She is a Certified Organisation Development Practitioner and is a Fellow of the Chartered Institute of Personnel & Development (FCIPD).

Global Director, Commercial

Capt. Ron Wood

Capt. Ron started his maritime career in 1988 as a seafarer onboard US-flagged vessels and moved up the ranks sailing with various US shipping companies.

He joined AET in 2001 as a Mooring Master, overseeing ship-to-ship transfers in the US Gulf, before moving into the commercial team as Manager for USG Lightering Operations, Assistant Vice President of Aframax Atlantic Chartering, Vice President and Head of Aframax Atlantic Chartering and most recently, Global Director, Mid-Size Tankers Crude Shipping and VLCC.

Ron obtained his US Coast Guard Master Mariner license in 1998. He has served as co-chair for Industry Taskforce on Offshore Lightering (ITOL) and is an active member on industry committees.

Chief Financial Officer

Winnie Cruz-Ding

Winnie has over 20 years of experience in finance. Prior to joining AET in November 2020, Winnie held CFO and financial leadership positions with large multinationals in various industries, including technology, hospitality, publishing, legal research information solutions, and private investment.

She has held interim CEO and HR Head roles that provided her a rich and broad experience in business strategy, controllership and compliance, corporate finance, driving transformation programmes, setting up and running shared services, and M&A.

Winnie is a qualified CPA with an MBA from the University of Dubuque in the US, and a Bachelor of Science in Commerce from the University of Santo Tomas in the Philippines.

Global Director, Business Development & Technology

Robert Sullivan

Robert Sullivan assumed his position as Global Director, Business Development & Technology as of 1 April 2024, and oversees the development of AET’s strategy in terms of business development and joint venture opportunities.

Most recently, he was Global Director, Legal (General Counsel) from April 2022 and later expanded his role from August 2023 to include Business Development. He brings to the position experience garnered from over 23 years in the energy and maritime industry.

Prior to joining AET, he was a corporate and commercial lawyer with extensive M&A and Alternative Energy experience leading teams across the Americas, Asia and Europe. Robert’s career started with Britannia P&I Club before taking on various leadership roles at BP and Geoquip Marine.

Robert completed his Master in Shipping Law and International Trade (LLM) at the Institute of Maritime Law, University of Southampton, UK, prior to qualifying as a Barrister (Middle Temple - Inns of Court School of Law, UK) and subsequently further qualifying as Solicitor of the Law Society of England and Wales. Robert is also a member of INTERTANKO’s Legal and Insurance Committee.

Global Director, Technical – Operations, HSSE & Decarbonisation

Capt. Pavan Kumar

Capt. Pavan assumed his current AET appointment on 1 April 2024.

He was previously Head of Commercial Operations and Chartering at MISC since 2020.

Capt. Pavan began his sailing career with Neptune Orient Lines Singapore and thereafter came ashore and joined CMA CGM Southeast Asia Regional office in 2001 as owner’s representative for terminal operations.

He later joined MISC as a Senior Manager, Commercial Operations in the LNG Business unit in 2008 and was appointed as Head, Ship Operations (Vessels and Floaters), LNG in 2013. He was posted to MISC Japan as Head, LNG Liaison Office (Japan/Korea/China) in 2016 and thereafter appointed as Head, Ship Operations and Contract Management in 2018.

He graduated from Singapore Polytechnic with a Diploma in Nautical Studies and Advanced Diploma in Maritime Transportation and holds a Master Foreign-Going Certificate of Competency from the Maritime and Port Authority of Singapore.

Global Director, Strategy, Sustainability & Enterprise Risk Management

Smriti Sharma

Smriti Sharma currently serves as the Global Director for Strategy, Sustainability and Enterprise Risk Management at AET, a position she has assumed since October 2024. In this role, she is responsible for driving the company's strategy and sustainability agenda, ensuring alignment with business objectives, while managing enterprise-wide risk management and frameworks. Additionally, she is responsible for driving Business Improvement projects and managing Commercial Assurance.

Previously, Ms Sharma held senior roles at AET, including Director of Strategy and Sustainability, as well as Vice President and Assistant Vice President of Corporate Strategy and Risk Management.

Since May 2023, Ms Sharma has also been serving as a Director on the Board of the Malaysian Maritime Academy Sdn Bhd.

Before joining AET, Smriti held various roles in corporate strategy and planning, including Business Partner in the Corporate Planning Division at MISC Group and Manager of Corporate Strategy at Capgemini Consulting. Earlier in her career, she worked as a Senior Research Consultant at Infiniti Research (India), a Sales Manager at ICICI Lombard, and as a Graduate Management Trainee at Mahindra and Mahindra.

Ms Sharma holds a Bachelor’s degree in Mechanical Engineering and a Masters in Business Administration with specialisation in Marketing and Finance.

General Counsel & Chief Integrity Officer

William Blagbrough

William (“Will”) Blagbrough serves as General Counsel & Chief Integrity Officer at AET, assuming the role on 1 October 2024. Based in Singapore, he oversees the company's legal and integrity functions, ensuring the highest standards of governance and compliance across AET's global operations.

Will studied Economics & Politics at the University of Durham (UK) before moving into law, spending 14 years in private practice at a leading maritime firm. He joined AET in 2021 in Singapore as Head of Legal for the Asia Region, before working in the CEO office at AET, then at MISC. Most recently, Will held the position of General Manager, Legal (Shipping & Maritime) at MISC, based in Kuala Lumpur.

About Us

OVERVIEW

VISION & MISSION

AET AT A GLANCE

Financial (US$)

Revenue

EBITDA**

Total Assets

Assets (as of 30 April 2024)

Average Age of Our Fleet vs 12.7 Industry Average

LNG dual-fuel Very Large Crude Carrier (VLCC) Newbuilds Delivered in 2023/2024

Dual-Fuel Assets

Aframax

2

DPST

2

VLCC

5

Newbuilds

4*

Vessels

World’s Only

Owner-Operator of MCVs

Operational Excellence

Vessel Availability & Vessel Utilisation

Ship-to-ship (STS) Transfers in US Gulf since Inception

Human Capital (Onshore)

Nationalities

Number of Staff

Male

Female

World's First Ammonia Dual-Fuel Aframaxes

Shipbuilding and long-term Time Charter Party (TCP) contracts signed in 2024

Awards and Recognition

vessels received Chamber of Shipping of America (CSA) Jones F. Devlin Award for Safety

vessels received CSA Annual Environmental Achievement Award

Health, Safety and Environment (HSE)

Total Scope 1^ Absolute Greenhouse Gas (GHG) Emissions Reduction in 2023 compared to 2008

Total Scope 1^ AERCO2e# Reduction in 2023 compared to 2008

Total Scope 1^ AERCO2e# Reduction in 2023 Year-on-Year (Y-o-Y)

Lost Time Injury Frequency (LTIF)

Total Recordable Case Frequency (TRCF)

BOARD MEMBERS

EXECUTIVE LEADERSHIP TEAM

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Total Scope 1^{^} Absolute Greenhouse Gas (GHG) Emissions Reduction in 2023 compared to 2008

Total Scope 1^{^} AERCO₂e^# Reduction in 2023 compared to 2008

Total Scope 1^{^} AERCO₂e^# Reduction in 2023 Year-on-Year (Y-o-Y)