Speaking at its 27th interim meeting in Shanghai the ASF said there had been 17 incidents of siphoning of fuel oil from tankers in Asian waters in the last four years.

The ASF’s Safe Navigation & Environment Committee added that it is “very concerned that the surge in the number of incidents in 2014 could result in a situation where vested commercial interests use alarmist press reports to depict scenarios where vessels transiting the Straits of Malacca and Singapore are forced to pay additional premiums.”

The committee also said it hoped that governments continue to take pro-active measures to combat incidents of piracy and armed robbery in the region.

The ASF is a voluntary organization of the shipowner associations of Australia, China, Chinese Taipei, Hong Kong, India, Japan, South Korea and the Federation of ASEAN Shipowners' Associations.

It has been estimated that ASF owners and managers control and operate nearly 50% of the world’s commercial fleet.