“Talk is cheap, you’ve got to act now”

AET Marine Money Singapore Ship Finance Forum 2022 700x467

“Talk is cheap, you’ve got to act now”, urged the industry, our President & CEO and MISC Group’s COO, Capt. Rajalingam Subramaniam at the Keynote Interview of the Marine Money Singapore Ship Finance Forum 2022. What is important for greener shipping is collaboration amongst industry players including the banking sector which needs to provide bigger financial incentives for cleaner shipping while also participating in the innovation risk next to taking credit risks.

“You have to ask yourself do you want to minimise risks, or rather minimise the regret in the future? Is it profit bottom line or will you look at people, planet and profit in that order of priority? We need to become strategic partners to address the challenges now to invest in both talent and technology for the future and do what’s right, not just what’s convenient!”

The day before saw the MOU signing by some members of The Castor Initiative, Lloyd’s Register, Samsung Heavy Industries and MISC via its subsidiary AET for the development and construction of the first two ammonia dual-fuel zero-emission VLCCs, which will be owned and operated by AET in early 2026. This MOU is certainly a landmark step forward which signifies MISC and AET’s longer term Net-Zero GHG Emissions Commitment by 2050.