Transport Minister Anthony Loke said Malaysia was taking full advantage of its strategic location to develop its bunkering industry. (BERNAMA)

Kuala Lumpur: TAG Marine, the operator of Kuala Linggi International Port (KLIP) signed a service agreement with international shipping company, Euronav for the provision of a bunkering hub, supply of low sulphur fuel and other marine services.

Transport Minister Anthony Loke said Malaysia was taking full advantage of its strategic location to develop its bunkering industry.

“We have a gem in the leaky pot, as the minister of transport my role is to polish all these gems. I think I have mentioned as a maritime country we have many advantages.

“The Ministry has promulgated the Malaysia Shipping Master Plan (2017-2022) aiming to revitalise shipping for a stronger economy,” he said at the announcement of the service agreement today.

The ministry recently launched the National Transportation Policy (2019-2030) to propel the nation in its logistic endeavours with enhancements in road, rail, air and maritime sectors, and their interconnectivity to help Malaysia realise its target as a Regional Distribution Hub.

NTP 2019-2030 would contribute to the nation’s economy and ensure Malaysia remains not just business-friendly but able to position itself as a global leader in the industry.

“And for this, I believe that KLIP can also play a vital role to help Government in realizing the policy,” said Loke.

About 85,000 ships transit annually through the Straits ferrying international trade between the ports of Europe, Africa, Middle East and the Indian Ocean rim countries through to the Asean States, China, Japan, the Korean Peninsula and the eastern seaboard of the Russian Federation.