KUALA LUMPUR: The Malaysian Shipping Association (SAM) is seeking to work closely with the Federation of Malaysian Freight Forwarders (FMFF) and Selangor Freight Forwarders and Logistics Association (SFFLA) towards finding alternative security instruments to facilitate trading transactions without the need to collect security deposits.

“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 the merchant have the option of choosing the carrier that best suits their needs,” it said in a statement yesterday.

The association said in the past week, the freight forwarders represented by the FMFF and SFFLA urged the government to put a stop to the practice of carriers securing a security deposit for release of cargo.

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