KUALA LUMPUR: The sea and land transport sectors, particularly in cargo handling and public transport passenger movement, remain relatively stable despite the ongoing global energy crisis.
But the aviation and tourism sectors are showing signs of strain, said Economy Minister Akmal Nasrullah Mohd Nasir (pic).
He noted that 55 weekly flights from six airlines were cancelled between March 23 and 28, while tourist arrivals from March 1 to 25 had declined.
He said the situation is compounded by projections of a drop of 1.5 million air passengers from the Middle East in 2026.
“The Middle East conflict has caused major disruptions to global energy flows, and we are feeling the spillover effects.
“Although a two-week ceasefire was agreed on April 8 between the United States and Iran, there are no clear signs that the conflict will end soon.
“On April 13, peace talks failed to reach a conclusive resolution, and the US announced maritime sanctions on Iranian ports.
“While technically targeting traffic to those ports, the move adds uncertainty and keeps shipping flows through the Strait of Hormuz at constrained levels,” he said during a televised briefing.
Akmal Nasrullah said that as long as key global energy routes remain exposed to security risks, insurance premiums, freight costs and petroleum prices are likely to stay elevated beyond normal spot price movements.
“Transport costs have nearly doubled, while insurance premiums have risen by up to 16 times per voyage. This matters because higher logistics costs feed through to diesel and petrol prices, production inputs and ultimately the cost of living,” he said.
