The Nippon Foundation has urged ship owners to contribute to a fund for ensuring navigational safety in the Malacca Straits.
The Tokyo-based group shouldered a third of the overall cost of maintaining navigational aids in the narrow waterway, and ship owners must help to ease the financial burden for border nations.
''I appeal to ship owners to contribute to a fund that will be managed by the three littoral states - Malaysia, Indonesia and Singapore,'' Yohei Sasakawa, foundation chairman, told a regional maritime conference.
''As more ships pass through, the burden of this responsibility is becoming too great to be borne by the littoral states alone.''
Sasakawa said a major accident in the passage of more than 94,000 ships annually through the Malacca Straits could cripple international trade. The narrow straits carries about 40% of the world's shipping trade.
''If an accident happens, ships may not be able to use the straits. This will force ships to use other routes which may be longer or more dangerous which will then increase insurance charges and harm the shipping industry,'' he said.
''The disruption of oil and gas transport will affect millions of people in energy-importing countries.''
Sasakawa noted that ship owners have been reluctant to contribute to the fund, saying international waterways should be free and that they would have to raise freight charges if they were to contribute.
''I appeal to them to change their attitude. We need to prevent an accident from happening,'' he said.
He proposed a fund of $8 million for 2009, with his foundation providing $2.5 million, Greece and a Middle East navigation service offering $1 million each, and South Korea, UAE and the Japanese Shipowners Association also chipping in.
The contributions amount to $5.4 million, leaving a shortfall of $2.6 million which user nations and ship owners are called upon to help.
The fund, which also covers the Straits of Singapore, would maintain navigational aids that include lighthouses, beacons and buoys to guide ships through the often congested waterway and prevent collisions.
The Tokyo-based group shouldered a third of the overall cost of maintaining navigational aids in the narrow waterway, and ship owners must help to ease the financial burden for border nations.
''I appeal to ship owners to contribute to a fund that will be managed by the three littoral states - Malaysia, Indonesia and Singapore,'' Yohei Sasakawa, foundation chairman, told a regional maritime conference.
''As more ships pass through, the burden of this responsibility is becoming too great to be borne by the littoral states alone.''
Sasakawa said a major accident in the passage of more than 94,000 ships annually through the Malacca Straits could cripple international trade. The narrow straits carries about 40% of the world's shipping trade.
''If an accident happens, ships may not be able to use the straits. This will force ships to use other routes which may be longer or more dangerous which will then increase insurance charges and harm the shipping industry,'' he said.
''The disruption of oil and gas transport will affect millions of people in energy-importing countries.''
Sasakawa noted that ship owners have been reluctant to contribute to the fund, saying international waterways should be free and that they would have to raise freight charges if they were to contribute.
''I appeal to them to change their attitude. We need to prevent an accident from happening,'' he said.
He proposed a fund of $8 million for 2009, with his foundation providing $2.5 million, Greece and a Middle East navigation service offering $1 million each, and South Korea, UAE and the Japanese Shipowners Association also chipping in.
The contributions amount to $5.4 million, leaving a shortfall of $2.6 million which user nations and ship owners are called upon to help.
The fund, which also covers the Straits of Singapore, would maintain navigational aids that include lighthouses, beacons and buoys to guide ships through the often congested waterway and prevent collisions.