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AET Bags USD 245 Mn Charter Deal with Shell

AET Bags USD 245 Mn Charter Deal with Shell
Petroleum and chemical tanker owner AET Tanker Holdings, a vessel-owning entity of MISC Berhad, has secured three time charter contracts by Brazil Shipping I Limited, a Shell Group entity, worth USD 245 million.

Under the terms of the deal, AET will own and operate the related newbuilding Suezmax Class Dynamic Positioning (DP) Shuttle Tankers for operations in international and Brazilian waters.

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

“The contract does not have any effect on the issued and paid up share capital and substantial shareholding in MISC. The contract is also not expected to have any material impact to the earnings per share, gearing and net assets per share of the MISC Group for the financial year ending 31 December 2019,” MISC said in an exchange filing.

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