Malaysian energy shipping firm MISC is planning to cut shipping emissions by aiming to run half of its fleet with LNG dual fuel propulsion by 2030, reports Seatrade Maritime News.
Yee Yang Chien, CEO of MISC, told that the company is working on a hydrogen derivative as an option for introducing zero-carbon engines in the future. He added that MISC is seeking cooperation with other global partners to develop this.
Lesser gas emissions
The new greener tankers are expected to emit almost 100% less sulphur, cut emissions of nitrogen oxide by 85% and reduce carbon dioxide emissions by 20%.
The greener ships are to be built by South Korea’s Samsung Heavy Industries (SHI) and operated by AET, MISC’s petroleum shipping arm.
Yee noted that both the shipping operator and its clients are facing pressure from international organisations and investors to tackle emissions, part of the environmental, social and governance movement in improving asset management.
Eco-friendly engines
Yee was reported saying that there is indeed a financial burden of building ships with more environmentally friendly engines, which is a challenge for MISC as each ship will cost the company an extra $10m to $15m.
He suggested that in order to overcome the problem, MISC has to promote the ships with other partners including shipbuilders and clients to as to generate the benefits of scale.
LNG shipping
MISC is currently focusing on the North Sea area around Norway for shuttle tankers, and shipping LNG from American and Canadian producers to Europe.
The company’s new business will be in the Atlantic Basin including South America, Africa and the Gulf of Mexico, where Petronas does not have existing operations. MISC is also trying to expand its offshore business in Brazil.
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Source: Seatrade Maritime News
