Malaysia is presently checking its bunkering laws in a bid to encourage ships to refuel in the nationthrough the Straits of Malacca, Transport Minister Anthony Loke said on Tuesday (Sep 10).
According to the local press, Malaysia has lost bunkering to its neighbour Singapore over the years.
“All vessels arriving at ports and crossing the Malacca Straits need to refuel, but most of the moment bunkering is taking place in Singapore,” Mr Loke was cited by MalayMail as stating.
With revenues of 49.8 million tons of petrol in 2018, Singapore is the world’s biggest bunkering centre.
Mr Loke said that Malaysia needs to create a supply, regulatory and implementation environment.
“We need to offer shipping lines trust that Malaysia’s bunkering is secure and we can be transparent,” he informed journalists.
The minister confessed that bureaucracy hinders the local bunkering industry’s development, with too many laws and procedures keeping away prospective participants in the sector.
As such, reviewing and streamlining laws is the first phase. The Ministry of Transport and the Ministry of Domestic Trade and Consumer Affairs will undertake this assignment.
“We already have our first official-level sessions between the two ministries, and that will set the basis, of course,” said Mr Loke, according to the Star.
“I’m also going to have a conference with the minister himself to finalize the information and develop extensive strategies on how to push our bunkering sector forward.”