KUALA LUMPUR (Sept 29): AET, the Singapore-based maritime transport operator wholly owned by MISC Bhd, has signed a memorandum of understanding (MOU) with Thailand's national energy company PTT for the construction of two Aframax oil tankers that will be powered by green ammonia. "This MOU sets another clear signal of PTT's and AET's commitment to reducing greenhouse gas (GHG) emissions from international shipping as energy efficiency improvements alone will not be sufficient." AET president and chief executive officer Capt Rajalingam Subramaniam said the company's collaboration with PTT also goes beyond these first two net-zero green ammonia powered Aframaxes. "Providing the much-needed boost to create a green ammonia corridor in Southeast Asia would be another desired outcome of this MOU. MISC's share price settled 10 sen or 1.47% higher at RM6.90 on Thursday (Sept 29), bringing a market capitalisation of RM30.8 billion.

Source: The Edge Markets September 29, 2022 22:38 UTC