In his opening remarks, Singapore’s Transport Minister Jeffrey Siow said recent events had shown that open sea lanes cannot be taken for granted, and that safe and open waterways depend on international law and cooperation among countries.
Mr Siow cited how ship traffic through the Strait of Hormuz – a route that previously carried a fifth of global oil supplies – had fallen to less than a tenth of pre-conflict levels and how vessels continued to face attacks despite being guaranteed passage under UNCLOS. Fewer than 20 commodity vessels transited the Strait of Hormuz at the weekend, shipping data showed on Monday.
Through the Cooperative Mechanism, Indonesia, Malaysia and Singapore and their partners have translated shared interests into practical cooperation, built on longstanding trust and collaboration, he said.
Read Full Article At Source
