AET, a member of the MISC Group, is navigating the energy transition by balancing long-term ambition with near-term pragmatism as it works toward achieving net zero by 2050. Here, President and CEO Nick Potter outlines the company’s focus on delivering measurable progress through efficiency, innovation and collaboration – in a sector defined by its global scale, operational complexity and interdependencies across supply chains, regulation and technology.
Nick Potter has no time to waste.
The newly-appointed President and CEO of AET stepped into the role this March with a clear sense of purpose. Leading AET, a Singapore-based global owner and operator of crude, petroleum, and specialist tankers, he is focused on delivering tangible progress — with firm targets to reduce the GHG intensity of its fleet by 40% by 2030 and achieve net zero by 2050.
“Despite current market volatility, the energy transition is well underway and will be further buoyed by IMO MEPC, which sets out a global regulatory framework for putting a price on greenhouse gas emissions and achieving net-zero in the industry by 2050,” he states. “But meaningful progress demands action, not just ambition. That’s why we continue to take concrete steps – from expanding our fleet of LNG dual-fuel vessels and advancing the world’s first ammonia dual-fuel Aframax tankers, to integrating biofuels, energy-efficiency technologies, and broader emissions-reduction strategies wherever feasible.
“We want to continue to play an active role in shaping the industry’s trajectory, ” he adds. “However, it must be balanced with a need to decarbonise profitably, and we must ensure that the highest standards of HSSE are always maintained.”
He smiles when summing the approach up, choosing his words with obvious care and consideration. “Yes, it’s ambitious… but it’s also pragmatic.”
Enabling action
The Singapore-headquartered business has invested heavily in LNG in recent years, building a fleet of 11 advanced LNG dual-fuel vessels, said to be “amongst the most environmentally friendly ships in the tanker market today.”
Potter admits that it is “not the end point”, but stresses: “LNG is the most viable lower carbon solution that is widely available today, reducing emissions by up to 23% on a well-to-wake basis when compared to conventional marine fuels.
AET – seeking safe, secure and profitable decarbonisation
“LNG has an established regulatory and safety regime, proven technology and can ease compliance with FuelEU Maritime and IMO MEPC 83’s mid-term measures. Furthermore, bio-LNG can offer further lower emissions per unit of energy than fossil-based LNG, although it is not readily available yet. Longer term, synthetic LNG has the potential to be a net-zero carbon fuel that has the advantage of utilising current infrastructure for supply. That’s a key advantage,” he says, adding: “Other net zero carbon fuels will take significant time to come online. LNG, combined with energy efficiency technologies, is an effective platform which can provide a pathway to net-zero over the long-term.”
Driving adoption
Among alternative fuels, it is ammonia that has generated the most headlines for AET, with the company’s move to order three ammonia dual-fuel Aframaxes in 2024 from Dalian Shipbuilding Industry Co (DSIC) creating a wave of interest industry-wide.
“We believe ammonia holds significant potential as a net-zero carbon fuel,” Potter says. “Other industrial sectors are considering ammonia as a fuel which helps scale total demand, in turn enabling its use as a marine fuel. Transportation of bulk ammonia also provides a more competitive alternative to hydrogen carriage increasing its likelihood of success as a long-term solution.”
Potter notes its potential to demonstrate “the future of near-zero carbon deep sea shipping” warrants the pioneering investment. “It’s our hope this world-first can drive industry adoption,” he adds.
However, the AET leader is also keen to place ammonia within a broader strategic context, explaining that it’s only one piece of a multi-fuel, multi-faceted strategy:
“We have an open, and eager, mindset when it comes to innovation and emerging technologies. Alongside ammonia, AET is actively evaluating and investing in a range of emerging fuels. This is especially true in markets where local conditions make them viable, such as ethanol in Brazil where AET is a leader in dynamic position shuttle tankers.
“Beyond that we’re also actively introducing fleet efficiency upgrades – such as ultra-low friction hull paint, propeller boss hub caps, Mewis ducts and many other interventions whilst exploring new technologies, including digitalisation, that reduce fuel consumption and regulatory costs, including wind-assisted propulsion, carbon capture and fuel cells.”
AET sees electrification as core to a lower carbon future. Whether it’s shorter term in battery-hybrid solutions or longer term with fuel cells. Last December, AET signed an agreement with Fleetzero to develop the world’s longest-range hybrid-electric vessel. The project allows AET to learn and scale for the future.
AET, it appears, is aiming to address the decarbonisation challenge on every front, from every possible direction. But as Potter makes clear, they can’t do it alone.
Stronger together
Collaboration will be central to success. As an example, AET is involved in the Clean Energy Marine Hubs (CEM-HUBS), a cross-sectoral public-private platform jointly led by an industry task force of CEOs, including Potter, and energy ministers to de-risk investments and transform the energy-maritime supply chain.
“Decarbonisation is a collective challenge that no single entity can solve alone,” Potter stresses. “Collaboration will determine the pace of progress – whether its collaborating to aggregate demand or sharing technology learnings in order to accelerate the energy transition.”
AET setting sights on engaging with the world at this Nor-Shipping
For optimal results that collaboration must be near universal, with Potter underscoring the importance of regulatory alignment, a financial landscape that supports the capital burden of new fuel technologies, and the development of supporting infrastructure. Equally critical, he notes, are strong commercial partnerships – with AET and its charterers taking an equitable approach to the risks and rewards of decarbonisation – as well as a clear, industry-wide approach to evolving safety standards and training needs in this new energy landscape. “We are seeking shipyards, engine manufacturers and vendors to work together to de-risk and standardise interfaces for seafarers to reduce the burden of managing increased complexity and risks of operating with new fuels and new technologies.
“Cross-industry collaboration will be central to achieving goals,” he comments, “and that’s just one of the reasons we’re taking centre stage at Nor-Shipping 2025.”
Supporting progress
The next Nor-Shipping, taking place in Oslo and Lillestrøm, Norway, 2-6 June, marks the first time AET has assumed the role of Partner. This allows the business the opportunity to share its own vision and strategy for sustainable success with the over 50,000 decision makers attending the week-long activity programme, while also playing a part in enabling broader development.
“Collaboration, and the innovation that can spring from that, is absolutely fundamental to progress.” Potter explains: “Sharing knowledge, building strong partnerships and showcasing shipping solutions at a gathering like Nor-Shipping can help future-proof our industry. The path to decarbonisation is complex and uncertain, shaped by regulatory challenges, geopolitical shifts, and economic realities. Now more than ever, collaboration is essential for navigating this transition.”
It’s another area where AET, and Potter, intend to lead the way.
For further details please contact:
Sidsel Norvik
Director Nor-Shipping
Email: sn@nor-shipping.com
Phone: +47 932 56 387
AET, a member of the MISC Group, is navigating the energy transition by balancing long-term ambition with near-term pragmatism as it works toward achieving net zero by 2050. Here, President and CEO Nick Potter outlines the company’s focus on delivering measurable progress through efficiency, innovation and collaboration – in a sector defined by its global scale, operational complexity and interdependencies across supply chains, regulation and technology.
Nick Potter has no time to waste.
The newly-appointed President and CEO of AET stepped into the role this March with a clear sense of purpose. Leading AET, a Singapore-based global owner and operator of crude, petroleum, and specialist tankers, he is focused on delivering tangible progress — with firm targets to reduce the GHG intensity of its fleet by 40% by 2030 and achieve net zero by 2050.
“Despite current market volatility, the energy transition is well underway and will be further buoyed by IMO MEPC, which sets out a global regulatory framework for putting a price on greenhouse gas emissions and achieving net-zero in the industry by 2050,” he states. “But meaningful progress demands action, not just ambition. That’s why we continue to take concrete steps – from expanding our fleet of LNG dual-fuel vessels and advancing the world’s first ammonia dual-fuel Aframax tankers, to integrating biofuels, energy-efficiency technologies, and broader emissions-reduction strategies wherever feasible.
“We want to continue to play an active role in shaping the industry’s trajectory, ” he adds. “However, it must be balanced with a need to decarbonise profitably, and we must ensure that the highest standards of HSSE are always maintained.”
He smiles when summing the approach up, choosing his words with obvious care and consideration. “Yes, it’s ambitious… but it’s also pragmatic.”
Enabling action
The Singapore-headquartered business has invested heavily in LNG in recent years, building a fleet of 11 advanced LNG dual-fuel vessels, said to be “amongst the most environmentally friendly ships in the tanker market today.”
Potter admits that it is “not the end point”, but stresses: “LNG is the most viable lower carbon solution that is widely available today, reducing emissions by up to 23% on a well-to-wake basis when compared to conventional marine fuels.
AET – seeking safe, secure and profitable decarbonisation
“LNG has an established regulatory and safety regime, proven technology and can ease compliance with FuelEU Maritime and IMO MEPC 83’s mid-term measures. Furthermore, bio-LNG can offer further lower emissions per unit of energy than fossil-based LNG, although it is not readily available yet. Longer term, synthetic LNG has the potential to be a net-zero carbon fuel that has the advantage of utilising current infrastructure for supply. That’s a key advantage,” he says, adding: “Other net zero carbon fuels will take significant time to come online. LNG, combined with energy efficiency technologies, is an effective platform which can provide a pathway to net-zero over the long-term.”
Driving adoption
Among alternative fuels, it is ammonia that has generated the most headlines for AET, with the company’s move to order three ammonia dual-fuel Aframaxes in 2024 from Dalian Shipbuilding Industry Co (DSIC) creating a wave of interest industry-wide.
“We believe ammonia holds significant potential as a net-zero carbon fuel,” Potter says. “Other industrial sectors are considering ammonia as a fuel which helps scale total demand, in turn enabling its use as a marine fuel. Transportation of bulk ammonia also provides a more competitive alternative to hydrogen carriage increasing its likelihood of success as a long-term solution.”
Potter notes its potential to demonstrate “the future of near-zero carbon deep sea shipping” warrants the pioneering investment. “It’s our hope this world-first can drive industry adoption,” he adds.
However, the AET leader is also keen to place ammonia within a broader strategic context, explaining that it’s only one piece of a multi-fuel, multi-faceted strategy:
“We have an open, and eager, mindset when it comes to innovation and emerging technologies. Alongside ammonia, AET is actively evaluating and investing in a range of emerging fuels. This is especially true in markets where local conditions make them viable, such as ethanol in Brazil where AET is a leader in dynamic position shuttle tankers.
“Beyond that we’re also actively introducing fleet efficiency upgrades – such as ultra-low friction hull paint, propeller boss hub caps, Mewis ducts and many other interventions whilst exploring new technologies, including digitalisation, that reduce fuel consumption and regulatory costs, including wind-assisted propulsion, carbon capture and fuel cells.”
AET sees electrification as core to a lower carbon future. Whether it’s shorter term in battery-hybrid solutions or longer term with fuel cells. Last December, AET signed an agreement with Fleetzero to develop the world’s longest-range hybrid-electric vessel. The project allows AET to learn and scale for the future.
AET, it appears, is aiming to address the decarbonisation challenge on every front, from every possible direction. But as Potter makes clear, they can’t do it alone.
Stronger together
Collaboration will be central to success. As an example, AET is involved in the Clean Energy Marine Hubs (CEM-HUBS), a cross-sectoral public-private platform jointly led by an industry task force of CEOs, including Potter, and energy ministers to de-risk investments and transform the energy-maritime supply chain.
“Decarbonisation is a collective challenge that no single entity can solve alone,” Potter stresses. “Collaboration will determine the pace of progress – whether its collaborating to aggregate demand or sharing technology learnings in order to accelerate the energy transition.”
AET setting sights on engaging with the world at this Nor-Shipping
For optimal results that collaboration must be near universal, with Potter underscoring the importance of regulatory alignment, a financial landscape that supports the capital burden of new fuel technologies, and the development of supporting infrastructure. Equally critical, he notes, are strong commercial partnerships – with AET and its charterers taking an equitable approach to the risks and rewards of decarbonisation – as well as a clear, industry-wide approach to evolving safety standards and training needs in this new energy landscape. “We are seeking shipyards, engine manufacturers and vendors to work together to de-risk and standardise interfaces for seafarers to reduce the burden of managing increased complexity and risks of operating with new fuels and new technologies.
“Cross-industry collaboration will be central to achieving goals,” he comments, “and that’s just one of the reasons we’re taking centre stage at Nor-Shipping 2025.”
Supporting progress
The next Nor-Shipping, taking place in Oslo and Lillestrøm, Norway, 2-6 June, marks the first time AET has assumed the role of Partner. This allows the business the opportunity to share its own vision and strategy for sustainable success with the over 50,000 decision makers attending the week-long activity programme, while also playing a part in enabling broader development.
“Collaboration, and the innovation that can spring from that, is absolutely fundamental to progress.” Potter explains: “Sharing knowledge, building strong partnerships and showcasing shipping solutions at a gathering like Nor-Shipping can help future-proof our industry. The path to decarbonisation is complex and uncertain, shaped by regulatory challenges, geopolitical shifts, and economic realities. Now more than ever, collaboration is essential for navigating this transition.”
It’s another area where AET, and Potter, intend to lead the way.
For further details please contact:
Sidsel Norvik
Director Nor-Shipping
Email: sn@nor-shipping.com
Phone: +47 932 56 387
