Malaysia invites China's Cosco to set up transshipment hub

Anthony Loke. -filepic

PETALING JAYA: Transport Minister Anthony Loke will pay a courtesy call to Cosco Shipping Line in China next month, in a bid to invite the shipping line to make Malaysia its transshipment hub in South-East Asia.

"In maritime industry, it is not just about port cooperation. What we need is a strong shipping network. Therefore, I would like to invite the Chinese government, in particular Cosco Shipping, to make Malaysia your major transshipment hub in Southeast Asia," he said in his speech at the opening ceremony of the International Forum on New Inclusive Asia. 

"I will pay an official visit to Beijing and will pay a courtesy call to Cosco in January next year," he said. 

Later at the press conference, Loke said that he has contacted the Chinese embassy related to his visit to China, and is in the midst of arranging his schedule. 

He also said it is important to enhance trade between the two countries.

He explained that once Malaysian ports become  transshipment hub, there will be more shipping lines call to the ports, bringing down the cost of shipping.

China Cosco Shipping Corp Ltd, which was formed as a result of the merger between Cosco Container Lines and China Shipping Container Lines, has emerged as China’s biggest container line and the fourth largest in the world.