Peraturan jelas mampu jadikan Malaysia hab bahan api marin serantau

Malaysia requires clear regulations to become a major source of maritime fuel, according to industry player R Jeyenderan. Such regulations could help Malaysia emerge as a maritime fuel producer and generate more revenue for the country, he stated. Malaysia already possesses nearly all the essential components to establish such an industry, including petroleum and palm oil reserves, storage facilities, ports, and a strategic location along the world's main sea routes.

To maximize revenue from oil shipments, Jeyenderan suggests that more processing should be done domestically, such as blending, storing, and selling fuel to ships. Simply receiving and transferring cargo is insufficient; more value should be created from the existing resources. Increased global demand for fuel due to disruptions in oil supply also presents opportunities for Malaysia to expand its petroleum and maritime fuel exports to the region.

Malaysia could potentially produce and supply very low sulfur fuel oil (VLFSO), as well as develop blending and bunkering activities.

The Southeast Asian region also holds potential for supporting this industry. Countries like Indonesia have petroleum reserves, while the Philippines has palm oil. Utilizing such resources could bolster the maritime fuel industry. Jeyenderan, with over 30 years of experience in maritime and shipping industries, believes that Malaysia's position along the main international shipping route further enhances this potential due to the large number of ships passing through its waters, creating a steady market for fuel services.

Taking advantage of this opportunity could boost government earnings and have a larger economic impact on the private sector. However, Jeyenderan emphasizes that this potential can only be realized if the government provides clear regulations regarding the movement and usage of oil cargo, specifically using Customs Form No 8 (K8).

Every shipment needs to be recorded and tracked clearly when stored, transferred, or blended. "We need clear regulations on what can be done with cargo after it enters storage tanks, especially when different types of petroleum are blended. This is crucial for protecting government earnings, preventing fraud, and providing certainty to industry players," he emphasized.