Importance of Shipping Industry In Malaysia

Nowadays, shipping industries in Malaysia is more demanding for the use in shipment of local and international. The shipping industry is expected to remain strong year by year. It supported by high demand for small and medium sized ships, balancing of the decline in orders for tankers and container vessels. Medium sized ships are now increasingly in demand, particularly from the oil and gas industry. For example, the Economic Transformation Programme (ETP), Petronas were using the medium sized ships for finding deep sea oils and those that are marginal oil fields within the waters of the country. They need more complex medium sized ships which are capable of manufacturing at local shipyards.

Other than that, shipping transport 90 percent of global trade in the market. Many of the company take the opportunity in shipping industry because shipping holds economic and environmental advantage over other modes of transport. Depend on the ocean shipping is expected to rise with increasingly trade volume. Water transportation is a key of Malaysia’s trade oriented economy. Consignor and consignee usually choose this water transport usually based on the cost that is offer by the shipping company is cheaper than other mode of transport.

The rise of shipping company will increase more job opportunity for young Malaysian’s student that past graduate. This is to avoid from our fresh graduate student unemployed. We can see that the number of shipping company keep increasing from time to time. It can help our Malaysian’s people grab the job in the shipping industry. It is the best if the owner and the workers of the shipping company are from our own country Malaysia, rather than owned by foreigner. It is not too bad for having a foreigner to invest in the shipping company in Malaysia, but priority of Malaysian people is more important. Besides that, this matter can give opportunity to the Malaysian people to invest in shipping company. Furthermore, it will attract more investor from the international to invest in our company in Malaysia. In this matter, it can develop our Malaysia ahead of others.

Our ports in Malaysia were very popular with the busiest port in Asia and International. Our ports such as East Port and West Port were in the top list of busiest port in the world. It is because of our country is located on world trade way. In this matter, shipping industry must play a role in generating economic to develop this place. Government in Malaysia open a place near to the port is for the shipping company open up their business. This will give a win-win situation for the government and the shipping company. Government will get the income from the investors that build their company on the government place in term of taxation, and the shipping company can get opportunity to open their business.