A Labor government would move to establish a "strategic shipping fleet" in a bid to address economic and security concerns about Australia's high dependence on foreign-flagged vessels.

If elected in May, Labor would seek to create the fleet to bolster the local maritime workforce and secure critically important supplies in times of crisis.

Labor wants to boost the number of Australian-flagged vessels. Bloomberg

"It is a national disgrace that an island nation like Australia only has 14 flagged vessels, and it’s in our national interest to fix this," Opposition Leader Bill Shorten said in a statement.

"I am determined to revive shipping in this country. I will not let the Liberals and Nationals do to shipping what they have done to the car industry in Australia. It is important for jobs, it is important for our economy, and it’s crucial for our national security. An island nation like Australia should have its own shipping fleet."

Under the policy, to be announced by Mr Shorten and Labor's transport spokesman Anthony Albanese on Sunday, Labor will establish a taskforce to guide the creation of the fleet.

The opposition says the fleet would likely include up to a dozen Australian-flagged and crewed vessels, including oil tankers, container ships and gas carriers. The ships would be privately owned and operated but could be requisitioned by the government in an emergency.

The taskforce to be established will comprise industry representatives, unions and Department of Defence officials.

Mr Shorten and Mr Albanese said the recent decline of Australian shipping had "destroyed the jobs of Australian seafarers and created a situation where none of the vessels our nation relies upon to deliver its essential supplies of crude oil, aviation fuel and diesel are registered in this country or crewed by Australians".

They said the fleet would "put an end to this unilateral economic disarmament, while also providing a platform for the training of more Australia seafarers".

The number of vessels registered in Australia has plummeted from 100 to 14 over recent decades. This number compares to 7914 for Panama, 4608 for China, 1157 for Britain, 629 for Germany and 160 for Bermuda.

Labor also plans to enforce laws favouring Australian-flagged vessels for shipping between Australian ports. Companies will be required to seek out an Australian vessel for their cargo first before opting for foreign vessels.

Labor will order the Department of Infrastructure to strengthen oversight of temporary licences granted to foreign-flagged ships allowing them to work along the Australian coast despite local vessels being available.