AET publishes its annual publication AET Connects

May 20 2021

This publication provides a comprehensive insight into the Company’s business and strategies, as well as capturing its operational highlights and achievements in 2020 and early 2021.


2020/2021 Operation Highlights:

  • Delivered seven (7) new Dynamic Positioning Shuttle Tankers (DPSTs), including two (2) among the world’s first dual-fuel DPSTs
  • An additional eleven (11) newbuild on order comprised of five (5) among the world’s first dual-fuel VLCCs to be delivered from 2022 onwards
  • All these delivered vessels and newbuilds are secured with long-term charters with energy majors.

2020 Financial Highlights (as of 31 December 2020):

  • Total assets are valued at US$4.1 billion
  • Secured income base stands at 54% of total EBITDA
  • We expect this to improve to about 70% of total EBITDA in the next 24 months with the delivery of another six eco-efficient DPSTs and five dual-fuel VLCCs on long-term contracts providing recurring revenue streams that will contribute towards AET’s long-term financial stability and liquidity.


The section on Sustainability, highlights how AET drives business excellence through its sustainability goals and Environment, Social and Governance (ESG) initiatives which are all key components of the Company’s long-term value proposition and business resilience. Its ESG focus is not only on the “E” but progressively on the “S” and strengthening the “G” component as AET believes in remaining part of the global solution for decades to come.




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