Friday, July 30

World shipping tonnage in 2016 up three per cent to 1.25 bln tonnes — Liow

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KUALA LUMPUR: The world shipping tonnage has increased by three per cent to 1.25 billion tonnes in 2016, said Transport Minister Datuk Seri Liow Tiong Lai,

He said better access to technology worldwide has resulted in a change of consumer behaviour, which also generated greater trade across borders.

“The World Bank has projected a global growth rate of 2.7 per cent and Asia, in particular, is poised to grow a higher rate in excess of five per cent.

“Today, we have also witnessed a surge in online business. In 2017 the value of global e-shopping alone is expected to top US$2.29 trillion (US$1=RM4.11). If this is a country it would have come in as the 8th biggest economy in the world,” he said.

Liow said this at the 30th International Maritime Organisation (IMO) General Assembly in London on Monday. The text of his speech was released yesterday.

Liow said there was still a lot more work for IMO and Malaysia was prepared to play its part and has been focusing on three important issues – sustainable development; capacity building; and, Straits of Malacca and Singapore – for the last couple of years.

Meanwhile, he said, Malaysia has submitted the name of its candidate for re-election under Category C to continue serving in the IMO Council.

“Malaysia is committed to work together with IMO and all member states to further the organisation’s objectives,” he said.

The IMO Council has 40 member states, divided into three categories, Category A comprises 10 member states with the largest commercial fleet size, Category B comprises 10 other states with the largest interest in international seaborne trade, and category C includes 20 non-elected states with an increasing presence in the field of international maritime transport. — Bernama