Asia/Pacific News
Malaysia to Cut Red Tape to Boost its Bunker Business
Malaysia is making a fresh review of its bunkering regulations in an effort to cut red tape and boost its marine fuels business.
"Over the years we think we have lost out in terms of bunkering, because all ships coming to ports and passing by the Straits of Malacca, they need to refuel, but most of the time all these bunkering is happening in Singapore, so we are losing out in terms of business to our southern neighbour," Transport Minister Anthony Loke was quoted by local news outlet Malay Mail as saying Tuesday.
"We need to develop a whole ecosystem in terms of supplies, regulations, and enforcement, and we have to give confidence to the shipping lines that bunkering in Malaysia is safe and that we can be transparent."
Loke, who was speaking following the opening of World Maritime Week 2019 National Celebrations at the KL Convention Centre, said initial meetings on the matter between the Ministry of Transport and Domestic Trade Ministry had already taken place.
“I will have a meeting with the minister himself to finalise the details and come up with comprehensive policies on how to move our bunkering industry forward,” he added.
Singapore is by far the world's largest bunkering port selling some 50 million tonnes of fuel annually.
