AET (company)

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Not to be confused with Eagle Oil and Shipping Company.
AET Tanker Holdings Sdn Bhd
Type Private limited liability company
Industry Shipping
Founded 1994
Headquarters Kuala Lumpur, Malaysia
Area served Global
Key people Datuk Nasarudin bin Md Idris (Chairman)
Hor Weng Yew
(CEO & President)
Products Ocean transportation of crude oil and refined products
Revenue $933 million (2010-11)
Employees 2,600 seafarers, 400 office executives
Parent MISC Berhad
Website www.aet-tankers.com

AET Tanker Holdings Sdn Bhd, formerly American Eagle Tankers, is a Malaysian-owned global shipping company specialising in the ocean transport of crude oil and refined products. Its fleet of around 90 ships make it one of the leading providers of maritime transport to the international petroleum industry.

History[edit]

Originally a subsidiary of Neptune Orient Lines, American Eagle Tankers was formed in Houston in 1994 to serve the US Gulf lightering market. From a fleet of just three tankers, the company grew to become a major force in that rapidly developing market.[1]

American Eagle Tankers became a wholly owned subsidiary of international logistics provider MISC Berhad (formerly the Malaysian International Shipping Corporation) in July 2003. At that time, American Eagle Tankers was operating around 25 vessels and this provided MISC with the critical mass and strategic positioning to serve its global petroleum customers with coverage in the Atlantic Basin, the Persian Gulf and the Far East.

In 2007, the company’s operations around the world were brought together under the single, global brand of AET.[1]

AET today[edit]

AET has its headquarters in Kuala Lumpur with commercial operations being conducted from regional offices in Houston, London, Singapore and Gurgaon (India). The company operates three shipmanagement centres (Singapore, Houston and Gurgaon) and five crewing and manning offices (Kuala Lumpur, Gurgaon, Chennai, Mumbai and Makati City, Philippines)

On behalf of oil majors and large trading houses, AET transports crude oil across the world's oceans in its fleet of Very Large Crude Carriers (VLCC) and aframax tankers. It also moves refined products in a fleet of smaller clean tankers. In addition, the company leads the industry in the provision of US Gulf lightering services – a specialised operation involving the safe transfer of crude oil at sea from large tankers to smaller ships that are more suited to enter the ports along the US coast. As part of its commitment to this sector, AET is currently taking delivery of a fleet of newbuild lightering support vessels (LSVs) - the first purpose built vessels of this kind to be constructed anywhere in the world - to replace its existing workboat fleet.

The company’s current fleet (as at 1 October 2011) totals 13 VLCCs, 61 aframax, one panamax and 13 clean tankers. Expansion plans include a further 11 ships that are currently being built in Asian shipyards.

AET employs 2600 seagoing personnel and 400 shore-based staff and has an asset base of around US$2.8 billion.

References[edit]

  1. ^ a b "Company website". Retrieved 2009-07-20. 

External links[edit]