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ULSAN, Korea,
11 January 2002 – Today American Eagle Tankers Inc. (AET) christened
its first Very Large Crude Carrier (VLCC), the Eagle Virginia.
The Eagle Virginia is the first of two 319,000 deadweight tons (DWT) VLCCs to
be delivered to AET by Hyundai Heavy Industries this year. The addition of VLCCs
to AET’s fleet signals the Company's move to provide customers with more
comprehensive long-haul services.
VLCCs have cargo capacities around 300,000DWT, compared with Aframax tankers which
constitute the majority of AET’s fleet, and which have capacities around
100,000DWT. Aframax tankers are used for the medium and short-haul transportation
of oil, whereas VLCCs transport crude oil in long-haul trades, mainly from the
Arabian Gulf to the Far East, Western Europe and United States.
AET Chief
Executive Officer Joseph Kwok said, “VLCCs enable us to expand beyond our
existing capabilities. Today AET has one of the largest Aframax fleets in the
world, serving the Atlantic Basin and US Gulf. We transport the oil from the larger
vessels to the ports. To better serve our customers’ needs, with the VLCCs
we can move into managing the entire oil supply chain from the source to the final
destination.”
Mr. Kwok said the new vessel would contribute to AET meeting the long-term capacity
demands of customers, and was part of the Company’s ongoing fleet rejuvenation
process that has already made AET’s fleet one of the youngest in the business.
As of 2001, the average age of AET’s fleet is about 6 years, compared to
the industry average of around 12 years.
The Eagle Virginia is another step in AET’s move to have an entirely double-hulled
fleet by 2003. “We have no single hulled tankers in our fleet and all are
either double-hulled or double-sided” Mr. Kwok said.“
Having a completely double-hulled fleet makes sense from both an environmental
and a commercial standpoint as more and more governments do more to reduce environmental
risks to their coastlines,” he added.
The Eagle Virginia was christened by Mrs. Suzanne Widing-Revere, wife of Paul
Revere, President of SeaRiver Maritime. SeaRiver Maritime is the marine services
subsidiary of ExxonMobil.
About AET
American Eagle Tankers, Inc is a global shipping company engaged in the transportation
of crude oil and related businesses.
AET was established in January 1994 with the aim of providing high quality marine
transport services to customers active in the Atlantic Basin and US Gulf Lightering
areas. Today, it serves clients around the world through its branch offices located
in the United States of America, United Kingdom and Singapore.
AET is a subsidiary
of Neptune Orient Lines Ltd (NOL) of Singapore. NOL is a global transportation
and logistics company engaged in shipping and related businesses, including chartering.
For further information contact: Paul Wilke
NOL Group · Tel: (65) 371-5311
Email: paul_wilke@apl.com
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