Latest news with #MalaysiaMaritimeWeek
New Straits Times
a day ago
- Business
- New Straits Times
Review maritime laws with Sabah, Sarawak a harmonisation exercise, says Loke
KUALA LUMPUR: The government will review maritime laws with Sabah and Sarawak, ensuring that the process respects the Malaysia Agreement 1963 (MA63) and preserves the states' maritime powers. Transport Minister Anthony Loke said the Malaysia Maritime Law Revision and Reform Committee (MLRRC) had been given one year to complete their review, which was aimed to harmonise the outdated laws. "All six Acts will be reviewed in an integrated manner, and we hope to take a more comprehensive approach. "The principle here is that we are not looking to consolidate authorities, especially with regard to merchant shipping. We are not trying to merge or take over any authority from Sabah and Sarawak. "Maritime powers under the Sabah and Sarawak governments will remain intact. We respect the MA63. "What we are doing now is a harmonisation exercise. By harmonisation, we mean that if there are inconsistencies or conflicting provisions across laws, we aim to align them so that the legal provisions between the peninsula, Sabah, and Sarawak are consistent. "That is what we are working on, with cooperation and consent from the Sabah and Sarawak governments," he told reporters after officiating Malaysia Maritime Week today. Last week, Loke announced the establishment of MLRRC, which would be chaired by Federal Court judge Tan Sri Nallini Pathmanathan. The first phase of the MLRRC Committee's assignment will focus on six main legislative instruments, namely the Merchant Shipping Ordinance 1952, Merchant Shipping Ordinance 1960 (Sabah) and the Merchant Shipping Ordinance 1960 (Sarawak). Other instruments include the Penang Port Commission Act 1955, the Port Authorities Act 1963 and the Port (Privatisation) Act 1990. The MLRRC membership consists of 23 permanent representatives from ministries or departments, and the Sabah and Sarawak governments. Loke said the revision was necessary as many of the existing maritime laws were outdated and had not been amended. "Many of these laws are no longer relevant or in line with current developments. We need to revisit them to ensure our maritime industry remains competitive," he said. He added that although the committee tasked with the review was given a one-year timeframe, they had been instructed to expedite the process. "Once the review is completed, we will appoint consultants to examine the legislation and draft the necessary amendments. When the drafts are ready, they can be presented to the ministry at any time. "We hope that starting this year, we will be able to table proposed amendments during every parliamentary sitting," he said.
Borneo Post
a day ago
- Business
- Borneo Post
Malaysia seeks to mitigate US tariff impact, keep maritime industry competitive, says Transport Minister
Loke notes that the maritime sector is currently performing well, supported by higher trade volumes at ports operated by MMC Corporation Bhd and Westports Holdings Bhd. – Bernama photo PETALING JAYA (July 15): Transport Minister Anthony Loke has expressed hope that the ongoing negotiations with the United States (US) government, ahead of the potential imposition of a 25 per cent tariff rate on Malaysia from Aug 1, will help mitigate the impact on the country's maritime industry and ensure it remains competitive. He noted that the maritime sector is currently performing well, supported by higher trade volumes at ports operated by MMC Corporation Bhd and Westports Holdings Bhd. 'Currently, we are doing well. If you look at our ports, they are performing strongly because volumes have increased,' he said. 'In fact, we are awaiting the announcement by Lloyd's List this August that will confirm that Port Klang is among the top 10 busiest ports in the world,' he told reporters after officiating the Malaysia Maritime Week (MMW25) today. Hence, Loke said, the government is doing its utmost to leverage all available diplomatic channels to secure a better deal with the US. 'We are using our diplomatic advantages to negotiate a better outcome so that we can hopefully mitigate any negative impact,' he said. Last week, Prime Minister Datuk Seri Anwar Ibrahim said Malaysia will continue negotiations with the US following the imposition of a 25 per cent retaliatory tariff on Malaysian products. Earlier in his welcome address for MMW25, Loke said the ports in Malaysia play a crucial role in the nation's economy, supporting trade and improving logistics capabilities. He said that despite the global uncertainty, Malaysia has maintained its position as a leading maritime hub. Loke said the Port Klang and the Port of Tanjung Pelepas (PTP) continue to lead the charge, consistently ranking among the world's busiest seaports, and are expected to set new performance benchmarks in the coming weeks. Speaking to reporters later, he said that 'every month we are looking at almost a 10 per cent growth for PTP in terms of volume. 'Of course, PTP is growing very strongly due to the consolidation between Maersk and Hapag-Lloyd. They have formed the Gemini Cooperation alliance and have made PTP their major hub in Southeast Asia. 'Meanwhile, Port Klang is consistent and growing steadily,' he said. In Malaysia, about 96.4 per cent of the country's trade is transported by sea. In 2024, Malaysia recorded its best trade performance ever, with total trade reaching RM2.879 trillion. – Bernama anthony loke maritime Port Klang PTP US tariff
New Straits Times
a day ago
- Business
- New Straits Times
Admiralty Bill to pave way for dedicated maritime court, says Loke
SUBANG JAYA: The Transport Ministry will table an Admiralty Bill aimed at establishing the legal basis for the creation of a dedicated maritime court. Transport Minister Anthony Loke said the bill would be presented during the third session of Parliament this year, scheduled between October and December. "We will table the Admiralty Bill in the year-end parliamentary session. The bill will provide a source of power to establish a special court for maritime matters. "At present, we do not have a dedicated maritime court. What we have is the High Court, with one of its courts specialising in maritime cases. "Our intention is to introduce this bill to provide the source of power so we can establish a more comprehensive judicial system for handling maritime disputes and related issues," he said after officiating Malaysia Maritime Week here today. Meanwhile, Loke said Malaysian ports are doing very well ahead of the high tariffs imposed by the United States that would be in effect on Aug 1. "We are waiting for an announcement by Lloyd's this August, which will confirm that Port Klang is among the top 10 busiest ports in the world. As of June this year, Port Tanjung Pelepas (PTP) has recorded almost 10 per cent monthly growth in volume." "So, in terms of volume, PTP is growing strongly due to the consolidation of Hapag-Lloyd and Maersk. They have formed the Gemini Alliance and made PTP their major hub in Southeast Asia "PTP's volume is rising significantly. Port Klang, of course, continues to grow steadily. So as far as that is concerned, our port sector is doing well." He added that although the high tariffs are expected to have a negative impact, the government is leveraging all diplomatic channels to negotiate a better deal, in hopes of mitigating the effects. Earlier in his speech, Loke said Malaysia's transport sector remains a key contributor to the nation's economic activity, demonstrating strong growth in the first quarter of 2025. He said the transportation and storage sub-sector grew by 9.5 per cent in the first quarter. "This performance was mainly supported by high demand for ocean freight, ports and logistics services, emphasising Malaysia's vital role in regional and global supply chains. "However, within the broader context of the country's balance of payments (BOP), the transport account remains a key component of the services deficit, which widened during the same period. "The transport account registered a larger deficit of RM9.3 billion in the first quarter of the year, compared with a deficit of RM8 billion in the previous quarter. This is mainly contributed by the maritime transport service sectors, especially the ocean freight fraction." Loke said for Malaysia, the maritime BOP highlights a core economic paradox where it is a world-leading trading nation with globally ranked ports, yet it has a structural dependency on foreign shipping to carry its trade. "This leads to a persistent and significant deficit in its sea transport account, which is a major contributor to the overall services deficit. "Beginning this year, the ministry has recalibrated the past policy propositions towards developing the Malaysian shipping sector, with the primary objective aimed at reducing reliance on foreign vessels and modernising the domestic shipping industry." He said the key initiative currently underway is the development of the Malaysia Maritime Masterplan 2026–2040, which is a strategy to boost the domestic shipping sector, improve service quality and increase the sector's contribution to gross domestic product.
