MISC’S AET BAGS LONG-TERM TANKER DEAL FROM STATOIL

PETALING JAYA: MISC Bhd’s petroleum logistics unit AET Tanker Holdings Sdn Bhd has bagged a long-term contract of up to US$275 million (RM1.18 billion) from Norway-based Statoil ASA to operate two specialist DP2 Offshore Loading Shuttle Tankers in the Norwegian and Southern Barents sea. The contract for a charter period of five years is valued at US$200 million (RM857 million), whereas a seven-year charter period carries a contract value of US$275 million. Pursuant to this award of contract, AET will commission Samsung Heavy Industries to build two 125,000dwt DP shuttle tankers for delivery in 2019 before chartering it to Statoil. The shipbuilding cost will be funded by AET’s internally generated funds and external borrowings.