This was said by the ICCC chief executive officer Paulus Ain, who added that the aim was to understand the prevailing market conditions and operations of the coastal shipping industry and take appropriate measures to ensure there was economic efficiency and quality of service provided.
Ain said the ICCC released a discussion paper on the review for public consultation in April last year which highlighted key issues and challenges affecting the industry such as policy framework, competition, safety, regulation, market structure and costs.
Ain told The National newspaper that some stakeholders had responded.
"The ICCC will also be conducting a wider stakeholder consultation in the maritime centres in June as part of this review process before releasing a draft report, and a final report by October," he said.
"Inputs from the stakeholders will assist the ICCC in making an informed decision. Stakeholders' comments and views will be sought during the review."