Economic Importance
From an economic and strategic perspective, the Strait of Malacca is one of the most important shipping lanes in the world.
The strait is the main shipping channel between the Indian Ocean and the Pacific Ocean, linking major Asian economies such as India, China, Japan and South Korea. Over 50,000 (94,000?) vessels pass through the strait per year, carrying about one-quarter of the world's traded goods including oil, Chinese manufactures, and Indonesian coffee.
About a quarter of all oil carried by sea passes through the strait, mainly from Persian Gulf suppliers to Asian markets such as China, Japan, and South Korea. In 2006, an estimated 15 million barrels per day (2,400,000 m3/d) were transported through the strait.
The maximum size of a vessel that can make passage through the Strait is referred to as "Malaccamax". The strait is not deep enough (at 25 metres or 82 feet) to permit some of the largest ships (mostly oil tankers) to use it. A ship that exceeds Malaccamax will typically use the Lombok Strait, Makassar Strait, Sibutu Passage and Mindoro Strait instead.
At Phillips Channel close to the south of Singapore, the Strait of Malacca narrows to 2.8 km (1.5 nautical miles) wide, creating one of the world's most significant traffic choke points.
Read more about this topic: Strait Of Malacca
Famous quotes containing the words economic and/or importance:
“A two-parent family based on love and commitment can be a wonderful thing, but historically speaking the “two-parent paradigm” has left an extraordinary amount of room for economic inequality, violence and male dominance.”
—Stephanie Coontz (20th century)
“The chimney is to some extent an independent structure, standing on the ground, and rising through the house to the heavens; even after the house is burned it still stands sometimes, and its importance and independence are apparent.”
—Henry David Thoreau (1817–1862)