AET Highlights May 2022

CEO’s Message

This week, we launched AET Connects 2021/2022, our annual publication that provides a comprehensive insight into our business. I am also pleased to announce that our inaugural voluntary reporting of climate-related strategies and approaches in accordance with Task Force on Climate-Related Financial Disclosures (TCFD) recommendations are in this issue of AET Connects.

With our continued investment in a greener asset portfolio, we are on track to meeting International Maritime Organization (IMO)’s 2030 targets of reducing greenhouse gases (GHG) intensity by 40% (against 2008 baseline), as well as our long-term commitment of net-zero emissions by 2050.

In April, we saw another milestone of our ongoing investment into greener shipping with the unveiling of our second dual-fuel VLCC, Eagle Vallery. Furthermore, I also urged during my keynote interview at the recent Marine Money Singapore Ship Finance Forum that collaboration is key for greener shipping to address the challenges and to invest now in both talent and technology for the future. We all need to act on decarbonisation now, do what’s right, not just what’s convenient.

For AET, our commitment towards a net-zero world for the people and planet continues to provide the focal point for our pursuit of growth and opportunities while contributing with a purposeful agenda alongside a passionate team towards a resilient and sustainable maritime industry.

I hope you will enjoy reading this issue and AET Connects 2021/2022!

Best regards,
Capt. Rajalingam Subramaniam
AET President & CEO and MISC Group COO


Launch of AET Connects 2021/2022

In case you haven’t seen it, we have launched AET Connects 2021/2022, our annual publication, to reach out to our friends, customers, partners, colleagues and other stakeholders around the world to provide an update on our business.

This year’s edition provides a comprehensive insight into our business, strategy and operational highlights and achievements, while the sustainability section highlights our multi-faceted efforts to create value for individuals, communities and the environment.

Our theme for this year, “Moving Energy to Build A Better World”, is a reflection of the commitment to conduct business in a manner consistent with the United Nations Sustainable Development Goals (UNSDG). It also underscores AET’s aspiration towards a net-zero future for the people and planet.

Click here to read AET Connects 2021/2022.

Celebrating women in maritime

18 May marked the inaugural IMO’s International Day for Women in Maritime and we featured incredible women across AET from Brazil, the UK, the US to Singapore with their maritime stories celebrating their strength, resilience and achievements as well as being part of the wider maritime industry.

At AET, we value the rich diversity that exists in our organisation which we know drives greater understanding and alignment with our stakeholders. We see Diversity and Inclusion (D&I) as an essential component of our sustainability goals with UNSDG 5 Gender Equality being one of the 11 identified UNSDGs we commit to.

We make concerted efforts to help the industry move forward and support women to achieve a representation across our global workforce. Today, 44 percent of our onshore staff are female, with the focus that has been and continues to build trust and empowerment through our D&I initiatives.

AET charts pathway towards lower carbon future with delivery of second dual-fuel VLCC, Eagle Vallery

Following the delivery in February of Eagle Valence, one of the world’s first dual-fuel VLCCs, Eagle Vallery is the sister vessel in this series of two built for long-term charter to TotalEnergies with Eaglestar as our appointed shipmanager.

Eagle Vallery was successfully and safely delivered by Samsung Heavy Industries to AET on 29 April 2022 marking another achievement for us as a pioneer in LNG dual-fuel vessels with a growing fleet of now eight in operations and three more VLCCs to be delivered in 2023.

These dual-fuel VLCCs are a reinforcement of our commitment to investing in sustainable shipping solutions that are both economically viable and environmentally compliant. With this next milestone, we continue to chart our pathway towards our target of GHG intensity reduction by 40% by 2030 (against 2008 baseline) as well as achieve our long-term commitment of net-zero emissions by 2050.

Wishing our crew safe voyage and fair winds always.

Give back to society to “build a better world”

We continued our COVID-19 donation campaign by partnering again with the Philippine Business for Social Progress (PBSP), The Felix Project, Houston Foodbank and Galveston County Foodbank. Several of our colleagues joined the recent handover ceremonies with the charity organisations and also learned more about their operations.

With our contributions, PBSP provided over 1,700 impacted families food packs with fresh and dried goods translating into over 180,000 meals. 300 local farmers and fishermen families also received much needed income from the produce they provided for these food packs. While The Felix Project funded the redistribution of fresh surplus food to prepare around 96,000 meals for vulnerable community members in London. In the US, over 60,000 meals were catered to the underprivileged in the wider Houston area while the Foodbank in Galveston served over 80,000 meals.

Overall, we have provided already over 1 million meals to the underprivileged with this 2021 donation campaign and we remain committed to supporting communities around our offices to make a positive difference.