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Maritime industry expects to rally after pandemic shockwave 20 Dec 2020 / 10:20 H. Pix for representational purpose only. KUALA LUMPUR: Global maritime trade is expected to plunge 4.1 per cent in 2020, as the health pandemic has taken a toll not only on the supply chains but also shipping networks and ports, resulting in plummeting cargo volumes, of which Malaysia was not spared. The industry has also been dealing with the knock-on effects of growing trade protectionism and inward-looking policies, according to United Nations Conference on Trade and Development (UNCTAD) in a report last month. Locally, Malaysia’s port operator, Westport Holdings Bhd had said its container volume declined by four per cent for the first nine months of 2020 as compared to the same period last year.

Kuala lumpurSumatera utaraUnited statesAnthony loke siew fookMohamed safwan othmanMohamed safwanDewan rakyatMarine industriesOwner associationAssociation malaysiaMalaysia shipowner associationBank pembangunan malaysia bhdGross national incomeMalaysian oil support vesselsWestport holdings bhdMaritime development