Kuala lumpur: Malaysia's sea and land transport sectors remain relatively stable, particularly in cargo handling and public transport passenger movement, despite the ongoing global energy crisis. Economy Minister Akmal Nasrullah Mohd Nasir highlighted these observations in a recent briefing. According to BERNAMA News Agency, Akmal Nasrullah pointed out that the aviation and tourism sectors are already showing signs of strain. He noted that 55 weekly flights involving six airlines were cancelled between March 23 and 28, while tourist arrivals from March 1 to 25 declined due to the crisis. Additionally, there is a projection of a drop of 1.5 million air passengers from West Asia by 2026, exacerbating the situation. The minister attributed these disruptions to the ongoing West Asia conflict, which has significantly affected global energy flows. Despite a two-week ceasefire agreed upon on April 8 between the United States and Iran, the conflict shows no signs of abating. On April 13, peace talks failed to achie ve a conclusive resolution, leading to the US announcing maritime sanctions on Iranian ports. This move, although technically targeting traffic to those ports, adds uncertainty and restricts shipping flows through the Strait of Hormuz. Akmal Nasrullah emphasized that as long as key global energy routes are vulnerable to security risks, insurance premiums, freight costs, and petroleum prices are likely to remain elevated beyond normal spot price movements. Transport costs have nearly doubled, and insurance premiums have risen by up to 16 times per voyage. These increased logistics costs are impacting diesel and petrol prices, production inputs, and ultimately the cost of living. In terms of the labor market, the minister noted that more visible impacts are expected in the second quarter of this year or beginning in June if the conflict persists, despite an overall decline in job losses from January to early April. He explained that the crisis has a lag effect, with cost pressures evident now, and impacts on jobs and incomes manifesting weeks or months later. To address these challenges, the government, through the National Economic Action Council, is assessing appropriate mitigation measures to ease public concerns.