Petronas' oil shipping arm to introduce 'greener' tankers

MISC wants to increase profits by 20% in the next four years

With sales and profit showing little growth in five years, MISC has ambitious expansion plans in the coming three-to-four years.

NANA SHIBATA, Nikkei staff writer

December 25, 2019 15:36 JST

TOKYO -- The shipping arm of Malaysia's state oil company Petronas will replace half its tankers with lower-emission models by 2030 to help tackle climate change.

MISC plans to replace 50% of its fleet with liquefied natural gas dual-fueled vessels to transport crude oil and petroleum in the next 10 years, CEO Yee Yang Chien told the Nikkei Asian Review in an interview in Tokyo.