PETALING JAYA: Malaysia’s shipping industry has demonstrated resilience by meeting rising global demand and maintaining profitability despite trade uncertainties, according to Shipping Association Malaysia (SAM) chairman Ooi Lean Hin.
The sector continues to invest heavily in capacity expansion and green fuel technologies to align with global decarbonisation targets.
Ooi highlighted that profits from the past five years have been reinvested into infrastructure to ensure long-term resilience.
He made these remarks during his opening speech at the Gateway to Asia seminar in Petaling Jaya.
Global trade dynamics are shifting due to emerging market growth, geopolitical tensions, and trade wars.
The rise of protectionist policies, including US tariffs, has disrupted supply chains and altered trade flows.
Ooi noted that these disruptions present new opportunities for Malaysia and Southeast Asian neighbours like Vietnam and Indonesia.
Hong Kong Economic and Trade Office director-general Libera Cheng encouraged Malaysian shipowners to register vessels in Hong Kong for market access and incentives.
Hong Kong offers connectivity to over 500 global ports alongside competitive tax policies and high safety standards.
Cheng expressed eagerness to collaborate with Malaysia on sustainable maritime development and digital innovation.
The seminar focused on strengthening trade ties between Hong Kong and Malaysia. - Bernama
