Maritime Traffic & Navigation Group

There is a shortfall of $2.1m in voluntary contributions next year for the new aids to navigation fund for the Malacca and Singapore Straits.

The landmark voluntary fund to pay for equipment and its maintenance in one of the worlds busiest shipping lanes, contributed by users, user states and stakeholders, requires a budget of $8m, but as yet only $5.9m has been pledged.

The largest contribution of $2.5m comes from the key industry benefactor the Nippon Foundation which has been funding navigational safety in the Straits for over 40 years, and has spearheaded the drive
for users to pay their share.

For more information, read Lloyds List.