Bunkering sector can boost maritime industry, says Loke

📆 2023/05/06 04:03:00
📰 staronline

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PETALING JAYA: The growth potential of the bunkering industry is a positive for the country’s economy, especially because it can act as a catalyst for a more dynamic and competitive maritime ecosystem, says Anthony Loke.

The Transport Minister said Malaysia’s strategic location, bounded by the Malacca Strait and the South China Sea, gives the country an advantage in developing a world-class bunkering hub.Loke said the global bunker fuel market would grow by 4% annually to reach US$160bil in 2030.

“Tankers with a single hull double bottom, delivered before July 1996, are allowed to carry oil and continue operations, but must have less than 5,000 tonnes deadweight. Loke also said tankers with 600 tonnes deadweight or more, delivered after July 1996, must comply with the requirements of Regulation 19, Marpol Annex I before they are allowed to register as Malaysian vessels.

Also present at the signing ceremony were MBA chairman Tan Sri Mohd Bakri Zinin and vice-chairman Sum Ang Kek, and Masa chairman Mohamed Safwan Othman.

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