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Industry needs new security methods to ease dealings: Malaysian carriers

THE Shipowners Association of Malaysia (SAM), representing carriers, said hopes to work with the Federation of Malaysian Freight Forwarders (FMFF) and Selangor Freight Forwarders and Logistics Association (SFFLA) towards finding alternative security instruments to facilitate transactions without security deposits, reports Bernama news agency

Industry needs new security methods to ease dealings: Malaysian carriers

THE Shipowners Association of Malaysia (SAM), representing carriers, said hopes to work with the Federation of Malaysian Freight Forwarders (FMFF) and Selangor Freight Forwarders and Logistics Association (SFFLA) towards finding alternative security instruments to facilitate transactions without security deposits, reports Bernama news agency

27 December 2018 - 19:00

THE Shipowners Association of Malaysia (SAM), representing carriers, said hopes to work with the Federation of Malaysian Freight Forwarders (FMFF) and Selangor Freight Forwarders and Logistics Association (SFFLA) towards finding alternative security instruments to facilitate transactions without security deposits, reports Bernama news agency.

'We, however, seek the understanding from SFFLA, FMFF, Malaysian National Shippers' Council and the import business community that our principals' interest in terms of demurrage, detention, and container damage recoveries must also be fully protected.



'We also feel strongly that there is no merit to regulate the shipping lines as the carriers are already offering various competitive options to the market and merchants have the option of choosing the carrier that best suits their needs,' SAM said in a statement.



SAM also said forwarders represented by the FMFF and SFFLA had urged the government to put a stop to the practice of carriers securing a security deposit for release of cargo.



In response, SAM clarified that the practice of securing a security deposit against a release of an import consignment was one of the measures taken by container line operators to mitigate their risks or exposure to non-payment of container damage recoveries and detention charges.


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