| dc.description.abstract | The global energy transportation system is vulnerable to interruption at critical marine
choke points such as the Malacca and Singapore Straits, Bab Al-Mandab, the Suez Canal,
the Turkish Straits, and the Strait of Hormuz. The impact of an interruption on energy
supply, pricing, and markets is determined by its scope and duration. Price level and
volatility are heavily in uenced by perceptions and the interplay of the ’wet barrel’ and
’paper barrel’ markets. Measures to close international straits are typically unlawful
in peacetime, and international law mandates that transit rights be maintained during
wartime. Therefore, the researcher intends to study the economic and strategic importance
of maritime choke points and to suggest the alternative regulations to strengthen
the stability of these choke points. The qualitative study is conducted as a secondary
exploratory research where the researcher gathered information from previously published
primary research due to the limited accessibility to primary data within the country.
Researcher nds that, it is critical to establish and sustain legal and political standards
governing the security of maritime choke points including user states, consumer states,
and international agencies. Cooperative arrangements between coastal states can boost
trust, while business and government initiatives to minimize their consequences can lessen
the chance of purposeful disruptions. The security of maritime choke points ultimately
depends on the enforcement of international law, as well as the desire and capacity of
interested members of the international community to do so if necessary. | en_US |
