AET Wins USD 525.6 Mln Charter Deal with Petrobras

Petroleum and chemical tanker owner AET Tanker Holdings, an entity of MISC Berhad, has secured long term time charter contracts for three Suezmax class dynamic positioning shuttle tankers with Brazilian state-owned oil company Petróleo Brasileiro S.A. (Petrobras).

The company will own and operate the newbuilding shuttle tankers intended for operations in Brazilian and international waters. The estimated contract value is USD 525.6million and the charter is expected to commence in 2022.

“These long-term time charter contracts will further reinforce AET’s position as one of the global market leaders in the niche dynamic positioning shuttle tankers market in addition to fortifying its position as amongst the world’s leading international petroleum shipping solutions providers,” AET said.

The contract is being announced two months after AET inked a charter deal with Brazil Shipping I Limited, a subsidiary of Royal Dutch Shell, worth USD 245 million.

Under the terms of the deal, AET would own and operate the related newbuilding Suezmax shuttle tankers for operations in international and Brazilian waters.

The long-term time charter is expected to commence in 2022.