Malaysia introduces new shipping policy to boost domestic fleet, reduce foreign dependency, and modernize green shipping.

Malaysia's new shipping policy targets a robust domestic fleet, aiming to reduce dependency on foreign vessels and modernize green shipping. Experts suggest focusing on increasing Malaysian tonnage & incentivizing exporters/importers to use domestic shipping for their goods. This is crucial due to a RM7.80bn transport services deficit in Q1 2024 and the country's strategic location.