Malaysia Positioned as Regional Marine-Fuel Hub to Boost Revenue

A maritime expert has called on Prime Minister Datuk Seri Anwar Ibrahim to position Malaysia as a regional marine-fuel hub, citing its potential to boost revenue.

Datuk Seri R. Jeyenderan, CEO of Maritime Network Sdn Bhd, said Malaysia's resources and infrastructure make it well-suited for producing and supplying Very Low Sulphur Fuel Oil (VLSFO), a cleaner-burning marine fuel with low sulphur content.

The country's access to petroleum and palm oil, established storage facilities, and strategic location along major international shipping routes are key advantages, Jeyenderan noted. He added that developing Malaysia as a regional VLSFO blending and bunkering hub could create more business opportunities in fuel storage, trading, shipping, transportation, and bunkering.

Jeyenderan also emphasized the need for clear rules to ensure proper tracking and recording of petroleum cargo entering Malaysia, particularly when different products are mixed. He said this is crucial to protect government revenue and provide businesses with certainty.