The Strait of Malacca is a narrow, 805 km (500 mile) stretch of water between the Malay Peninsula (Peninsular Malaysia) and the Indonesian island of Sumatra. It is named after the Malacca Sultanate that ruled over the archipelago between 1414 to 1511. From an economic and strategic perspective, the Strait of Malacca is one of the most important shipping lanes in the world. The strait is the main shipping channel between the Indian Ocean and the Pacific Ocean, linking major Asian economies such as India, China, Japan and South Korea. About a quarter of all oil carried by sea passes through the strait, mainly from Persian Gulf suppliers to Asian markets such as China, Japan, and South Korea. In 2006, an estimated 15 million barrels per day (2,400,000 m3/d) were transported through the strait. The maximum size of a vessel that can make passage through the Strait is referred to as Malaccamax. The strait is not deep enough (at 25 metres or 82 feet) to permit some of the largest ships (mostly oil tankers) to use it. A ship that exceeds Malaccamax will typically use the Lombok Strait, Makassar Strait, Sibutu Passage and Mindoro Strait instead. At Phillips Channel close to the south of Singapore, the Strait of Malacca narrows to 2.8 km (1.5 nautical miles) wide, creating one of the world's most significant traffic choke points.