AET Tankers will order three dynamic positioning-capable suezmax shuttle tankers as it expands its long-term charter commitments with Brazil Shipping I Limited, a Shell Group entity.

The Singapore-based tanker operator — through its Malaysian parent MISC Berhad — revealed in a statement to the Bursa Malaysia today that the contract has an estimated value of $245m.

The Shell subsidiary will operate the three shuttle tankers in Brazilian and international waters when the contract commences in 2022.