Exploring the State of Play for Shipping

Our Global Director, Mid-size Tankers Crude Shipping, Capt. Ron Wood participated in the S&P Global Platts Global Executive Petroleum Conference (GEPEC) 2021 panel session on “Exploring the State of Play for Shipping” alongside industry leaders from International Seaways, Vortexa and S&P Global Platts. The panel discussed the outlook for the tanker market with all agreeing some positive signs are emerging for gradual improvements through 2021 and 2022, looked at the impact of the energy transition on shipping and most likely fuels of the future.

Capt. Ron shared though there is no clear path yet which fuels and propulsion systems will lead the sector in decarbonisation, AET does not believe in sitting on the side-lines. A testimony to that are our investments of approximately US$2 billion in new assets over the past four years, of which about US$1 billion had been in dual-fuel assets. We focus on doing what is right rather than what is convenient, and our ambition is to have a larger percentage of our operating fleet running on cleaner fuels, including LNG, by 2025 to continuously reduce the carbon footprint of our shipping activities.