AET orders 3 product tankers using newbuildcon

Tanker owner-operator AET has ordered three 6,600 dwt oil/chemical tankers from Russia’s Okskaya Shipyard using BIMCO’s Newbuildcon standard newbuilding contract. The contract for the new tankers was signed on August 28, with the vessels due for delivery between July and December 2009.
The order for the new tankers is aimed at expanding AET’s fleet capacity and extending the geographical coverage of its operations. Long-term employment for the vessels has already been secured.
Zurina Raja Abu Bakar, AET’s legal counsel responsible for orchestrating the deal, said: “Newbuildcon provides a solid contractual platform that facilitates the placement of newbuilding contracts for both shipowners and yards. It represents an excellent standard form suitable for global use.
AET is a wholly owned subsidiary of Malaysian-based MISC and operates 12 VLCCs, 49 aframax, one Panamax and 12 product tankers. It also has a fleet of lightering support vessels in the US Gulf.