Malaysian state-controlled shipowner MISC is changing its leadership later this year promoting chief operating officer and AET Tankers chief executive Captain Rajalingam Subramaniam to its president and CEO position.
MISC said Captain Rajalingam will take over from the company’s current president and CEO Yee Yang Chien from 1 October 2022.
Yee, who has headed the Petronas shipping subsidiary since 2015, is retiring on 30 September after over 20 years with MISC.
The incoming CEO said: “It will be a huge privilege and honour to lead the MISC Group, a global and diversified maritime conglomerate, that I have proudly served for over 25 years.
“The maritime industry is undergoing one of the most transformative periods, unlike anything we have seen before, with sustainability as the vital force that is shaping the industry’s future.
He said he is “excited” by the challenges and opportunities the company can explore.
“I invite the leadership team and colleagues of MISC Group, to continue our passionate journey for a more resilient maritime future together,” he added.
Like many in MISC, Captain Rajalingam began his career at sea.
He came ashore in 1996 and has since held various positions in the MISC Group, including vice president of Fleet Management Services in 2008 before being appointed to head AET in 2016.
Captain Rajalingam also serves as board member for Gard P&I, on the executive committee for International Association of Independent Tanker Owners (Intertanko) and has been an honorary commander in the Royal Malaysian Navy since 2009.
Praising its outgoing CEO, MISC said Yee has steered the group’s transformation into a “formidable and resilient international maritime conglomerate” and led the streamlining of its business portfolio to deliver energy-related maritime solutions and services.
The company said Yee played a key role in MISC’s acquisition of AET, the formation of marine services provider Eaglestar, and led the group’s foray in securing its first deepwater floating production storage and offloading project in Brazil.
It said Yee’s “pioneering spirit” guided the MISC to diversify its portfolio into non-conventional gas shipping solutions and acquire six of the world’s largest VLECs in 2020, positioning the group as a key player in the ethane transportation market.
“Sustainability is very close to his heart, and he has been a strong advocate for global transformation and multi-stakeholder collaborations towards advancing a sustainable future for the maritime industry,” the company said.
It flagged up MISC’s position as strategic partner of the Global Maritime Forum and in the formation of The Castor Initiative, which is committed to developing commercially viable deep-sea zero-emission vessels by 2030
Yee said the role had been “a great honour”.
“It is more than a job or duty for me, but rather, it has been a personal mission, together with the great leaders and colleagues in the group, to build a Malaysian global champion in the international maritime arena.”
Yee highlighted the firsts that he and his colleagues had achieved including the world first’s LNG dual-fuel aframaxes and VLCCs.
“We are also proud to be lending our voice on the global stage to advocate the use of ammonia as a green fuel of the future for shipping, working hand in hand with our global partners via The Castor Initiative to make this a reality,” he added.
The outgoing CEO congratulated Captain Rajalingam on his appointment and said: “I am highly confident that under his leadership, the group is well-positioned for continued success and drive sustainable progress in the maritime industry.
