Malaysia's AET has won time-charter business from Brazilian energy giant Petrobras to back three dynamic positioning suezmax shuttle tanker newbuildings
The deal is priced at an estimated $300m plus in total.
The three tankers will be built at Samsung Heavy Industries and are due for delivery dates in 2022.
Parent MISC Berhad confirmed that AET Tanker Holdings had struck the deal, stating that the estimated contract value is nearly $526m.
AET will own and operate the dynamic-positioning-two (DP2) tankers for operation in Brazilian and international waters.
Petrobras is understood to have fixed the vessels, which will use conventional fuels, for 10 years, with an option to extend the hire for a further five years at rates in the high $40,000 per day range.
'Exhilerated'
MISC and AET chairman Yee Yang Chien said: “It is certainly exciting to start 2020 with such great momentum. We are exhilarated with the award of this long-term time charters."
He added: "2020 will be a year of accelerated growth for the entire MISC Group as we continue to work towards developing a very healthy pipeline of prospective projects with stronger tailwind behind us.
AET and Petrobras are old friends.
In May 2018 AET won charter business for up to 15 years from the Brazilian company to back four 152,000-dwt, dynamic positioning two (DP2) vessels. These ships are due for handover from SHI this year.
At the time AET said the newbuildings, priced at $83m each, will be in addition to the two AET DP2 ships currently on charter in the Brazilian Basin for Petrobras.
Malaysian owner MISC later revealed that the newbuilding shuttle tanker charter deal signed by its AET Tanker unit is worth $645m.
Late last year Hyundai Heavy Industries snatched the next batch of AET suezmax shuttle tanker orders from rival SHI.
AET contracted three 153,000-dwt vessels delivering in April 2022 against long-term charter contracts from Brazil Shipping I, an entity controlled by energy major Shell.
The charter contracts with Shell are due to start in 2022.
