As we continue to navigate the evolving maritime landscape, I am excited to share some recent achievements that reflect AET’s commitment to sustainability and innovation.
Firstly, we have taken further strides towards decarbonisation with the recent signings of contracts for the buildings of two of the world’s first ammonia dual-fuel Aframax tankers. Separately, we have also signed a long-term charter for two LNG dual-fuel Aframaxes. These latest advancements are aligned with our Energy Transition Strategy and support our AET2030 aspiration which aims for a 40% reduction in GHG emissions by 2030 from the 2008 baseline and the MISC Group’s ambition to achieve net-zero by 2050.
Additionally, we are proud to be awarded EuroMoney’s Islamic Finance Deal of the Year – Singapore 2024, which recognises our USD 100 million sustainability-linked Islamic revolving credit facility with Maybank — the first of its kind for the shipping industry in Southeast Asia, demonstrating both Maybank and AET’s commitments to net-zero greenhouse gas (GHG) emissions. More importantly, the award is a recognition to AET and MISC Group’s unwavering commitment to collaborate with like-minded partners to decarbonise the shipping sector and deliver more energy with less emissions.
In May, we have also released AET Connects 2023/2024, and this year’s edition is themed “Moving Energy – Navigating a Sustainable Future”, that further underscores our ongoing efforts in maritime decarbonisation.
On the social front, in partnership with Dream Learn Work (DLW) in Rio, we are sponsoring vocational education for young adults, aligning with our commitment to support the communities around our offices.
It is collaborations with individuals and organisations like yourselves that enable us to make significant strides towards a more sustainable future, ensuring that we meet global energy demands responsibly while making a positive impact on society and the environment.
Thank you for your continued support and enjoy reading this latest edition of AET Highlights!
Best regards,
Zahid Osman
AET President & CEO
At the signing ceremony for two of the world’s first ammonia dual-fuel Aframaxes with PETCO Trading Labuan Company Ltd (PTLCL) and Dalian Shipbuilding Industry Co., Ltd (DSIC), our President & CEO Zahid Osman said, “We take concrete actions to deliver on our commitment as industry leaders, to progress the decarbonisation of the shipping sector. The introduction of these two vessels will reduce the overall emissions from our operations whilst we deliver more energy for the world.”
Once delivered, these vessels will join our growing eco-friendly fleet, strengthening the resilience of our business and the MISC Group’s ambition of net-zero by 2050!
Click here for the full press release.
In addition, earlier that week, AET also signed a long-term charter for two LNG dual-fuel Aframaxes with shipowner Singfar.
AET Connects 2023/2024, themed “Moving Energy – Navigating a Sustainable Future”, marks a significant milestone as it coincides with our 30th anniversary, underscoring our long-term commitment to leading efforts in maritime decarbonisation.
The publication also highlights AET’s Energy Transition Strategy, which aims to deliver more energy with less emissions to meet the world’s need for energy security and society’s demand for lower emissions.
Click here to read the latest edition of AET Connects to learn more about our initiatives and progress!
AET, in collaboration with Maybank, was awarded the Islamic Finance Deal of the Year – Singapore at the EuroMoney Islamic Finance Awards 2024! Our President & CEO Zahid Osman and colleagues attended the ceremony to receive the award on behalf of #TeamAET in Dubai.
This award recognises the USD 100 million sustainability-linked Islamic revolving credit facility we signed with Maybank, for being the first such facility in the shipping industry in Southeast Asia, demonstrating both Maybank and AET’s commitments to net-zero greenhouse gas (GHG) emissions.
More importantly, the award is a recognition to AET and MISC Group’s unwavering commitment to collaborate with like-minded partners to decarbonise the shipping sector and deliver more energy with less emissions!
We are thrilled to announce our latest educational initiative aimed at empowering students in Rio. In the first year of our collaboration, AET and DLW have provided seven students between ages 20 to 25 the opportunity to pursue vocational education, setting them on the path towards a brighter future.
These young adults will attend courses offered by esteemed educational institutions in Rio to support their entry into the labour market. AET and DLW will also plan collaborative work-related activities across a variety of industry-related fields, ensuring they gain practical experience and valuable skills to thrive in the workforce.
The Brazilian state of Rio Grande do Sul has been suffering from unprecedented flooding since April affecting over 2.3 million people with more than 620,000 displaced. To help those in need, our colleagues in Rio responded swiftly to donate food baskets, hygiene and cleaning items to the Brazilian army in a race to deliver more emergency supplies to the local community.
