AET Highlights November 2024

AET wins Tanker Operator of the Year 2024; jointly with Tsakos Energy Navigation

The award recognises outstanding performance, innovation, leadership and sustainability achievements by tanker operators over the past 12 months.

Other factors for the judges’ consideration included exceptional operational performance across the fleet, high levels of safety, efficiency, and reliability, while demonstrating a strong commitment to environmental sustainability. They also reviewed any innovative crewing strategies, the maintenance of a modern and well-maintained fleet, strong financial performance and growth, as well as positive feedback from charterers, port authorities, and other stakeholders.

The award caps a year of celebrations for AET as we mark our 30th anniversary in 2024 and serves a strong reminder of our commitment to driving excellence and sustainability as we look to the future.

AET and Maybank win two awards for Best Sustainability-Linked Financing at The Asset’s Triple A Islamic Finance Awards

We were recognised for Best Sustainability-Linked Financing and Best Deals by Country (Singapore) for the USD 100 million sustainability-linked Islamic Revolving Credit Facility, Southeast Asia's first for shipping.

This achievement reflects AET and Maybank’s shared commitment to net-zero GHG emissions, supporting AET’s goals of a 40% reduction in fleet emissions intensity by 2030 and net-zero by 2050.

These wins underscore the MISC Group’s commitment to leading the way in sustainable shipping, and encourage us to explore greater partnerships that drive decarbonisation of the shipping sector.

AET receives two Green Ship Awards – delivering progress in sustainable shipping

Our vessels, Eagle Veracruz and Eagle Ventura, were recently awarded the Green Ship Status under MPA’s Green Ship Programme at the Singapore Registry of Ships (SRS) Forum 2024.

This award recognises their contributions toward sustainable shipping as part of the MPA’s Green Ship Programme and further solidifies AET’s energy transition strategy.

As part of the Maritime Singapore Green Initiative, the Green Ship Programme seeks to reduce the environmental impact of shipping and promote cleaner, greener practices.

We are grateful for the recognition and thank MPA for the award. Congratulations to all involved who made achieving this milestone possible!

18 Years of Environmental Excellence: AET recognised at the annual CSA Environmental Achievement Awards

At the 2024 Chamber of Shipping of America (CSA) Environmental Achievement Awards, 49 of our vessels were recognised for their excellent record of environmental stewardship. This marks the 18th year that AET has received this distinction, reflecting our long-standing commitment to operational excellence and environmental responsibility.

The awards were presented at CSA's annual dinner in Washington, DC, where Capt. Arip Ismail, Director of Commercial Operations, Mid-Size Tankers, hosted the table we sponsored. Maninder Grewal and Chief Engineer Mohiuddin Mohammed Sayem from MISC Marine represented the Group and accepted the awards on behalf of our team. Guests at the table included distinguished representatives from the US Coast Guard (USCG), American Bureau of Shipping (ABS) and other key government agencies, as well as industry leaders and ship operators.

The future of maritime energy: collaboration is key

Decarbonisation requires a pragmatic, collective approach. At the S&P Global Asia Gas Markets Conference on 22 October, AET’s Robert Sullivan, Global Director of Business Development & Technology, emphasised the need for collaboration: “It’s a partnership model and responsibility needs to be carried by everyone in the value chain."

Key takeaways from the discussion included the recognition of LNG as a crucial near-term solution for reducing emissions, the influence of regulatory policies in driving cleaner fuel adoption, and the importance of collaboration to advance progress and innovations such as carbon capture and storage.

AET is at the forefront of these efforts, partnering with innovators like Daphne Technology and the Maritime and Port Authority of Singapore (MPA) to address methane slip and develop training programmes on future fuels and technologies as part of the Maritime Energy Transition Facility (METF), respectively. By sharing practical insights and championing collaboration at such forums, we aim to drive meaningful progress towards a more sustainable future.

AET joins MPA’s Maritime Energy Training Facility Collaboration (METF)

AET has joined the Maritime Energy Training Facility (METF) to develop specialised training courses for maritime professionals, focusing on future fuels and technologies.

As one of 29 new partners, we will collaborate with Maritime and Port Authority of Singapore (MPA) to validate and shape METF’s training courses,

including the training curriculum and curriculum delivery of courses on future fuels and technologies supporting maritime decarbonisation.

This partnership underscores our commitment to nurturing talent in maritime and supporting the industry’s shift to cleaner, low- or near-zero emissions fuels, accelerating the path to decarbonisation.

AET President & CEO and MISC President & Group CEO Zahid Osman said, "The METF is a key initiative that aligns with our energy transition strategy and commitment to decarbonisation, supporting our 2050 net-zero GHG goal as part of the MISC Group."

Caring for the communities – AET teams up with Apex Club for community food

In November, our Singapore colleagues and their families set out to distribute food parcels to the elderly community living in the Redhill residential district.

The event, a joint effort with the Apex Club of Singapore (Bukit Timah), saw our volunteers packing nutritious fresh produce, groceries, and bread into goodie bags, and then distributing them to households.

An #AETcares activity befitting of AET’s 30th anniversary, our #oneAET team and their families dedicated their weekend to share their blessings and deliver the goodie bags to 153 homes, serving the needy and disadvantaged.

AET rallies together to clean our local beaches

To mark International Coastal Cleanup Day, colleagues across the globe participated in beach cleanups across Singapore, Rio, Galveston, and Brighton, collecting approximately 99 kilograms of trash, including cigarette butts, disposable plastics, straws and styrofoam packaging.

In the UK, colleagues gathered at Brighton Beach, clearing litter and enjoying time outdoors together.

Over in Galveston Beach, colleagues and their families joined the annual Adopt-A-Beach cleanup, wrapping up the meaningful day with a beachside lunch.

Meanwhile in Rio, we partnered with Dream Learn Work (DLW) for the first time, engaging youths from the underserved communities while caring for the environment.

We ended off this initiative in Singapore, where colleagues teamed up with Small Change (for the third year) and VOX @ Singapore Children’s Society to clean Changi Beach while connecting with VOX’s youth members.