Myanmar Grants Maersk Permanent License

MarineLink.com
Friday, February 21, 2014
Photo courtesy Maersk

The A.P. Moller – Maersk Group has received a permanent license to operate container business activities in Myanmar. The business will encompass the three brands Maersk Line, MCC Transport and Safmarine and the agency in Yangon will be officially opened in May 2014.

"We are pleased to be granted a permanent business license to operate our own agency in Myanmar. Since the European Union and United States eased sanctions in 2012, we have experienced a surge in interest in sourcing goods to and from Myanmar," said My Therese Blank, Myanmar Country Manager.

Macro-economic indicators signal a continuous expansion of growth in the country due to infrastructure development and investments in industries such as agriculture and garment. With a population of about 60 million, trade is also expected to grow as demand for consumer products increases.

"We have confidence in Myanmar's long-term economic growth potential. Containerized trade has been growing by 17 per cent annually on average from 2007 to 2013, and we expect the positive trend to continue. By 2020, container volumes indicate a potential growth to 600,000 FFE, which is four times the current levels," said My Therese Blank.

The Maersk Group's three container businesses have operated under a third party agency for the past 20 years. By increasing its presence in Myanmar, the Maersk Group sees more opportunities in working with customers, suppliers and the local authorities to develop the country's transport industry and supply chain, increasing the country's competitiveness in the international market.

"By establishing our own agency in Myanmar, we will be better able to take part in facilitating global trade, support economic growth, and offer support and local know-how to customers looking to enter this market. As lead members of the UN Global Compact, Maersk places strong emphasis on conducting our business in a responsible way in line with international principles. This gives our customers ease of mind and reduces their risk exposure in an important part of the supply chain," said My Therese Blank.

The Maersk Group is also represented in Myanmar by Damco, a separate company within the Group which handles supply chain management and freight forwarding activities. Damco received its permanent license to operate its own agency in Myanmar in July 2013.
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

IMO’s Sekimizu Condemns People Smugglers

Prompted by recent incidents in which hundreds of migrants attempting to cross the Mediterranean to Europe have lost their lives, including dozens found dead in

Glosten Acquires Noise Control Engineering

Noise Control Engineering LLC (NCE), a consulting firm for ship noise and vibration control, has become a wholly owned subsidiary of Glosten, Inc. a Seattle-based

Total Lubmarine Resumes Full Service in Tianjin

Marine lubricants and greases provider Total Lubmarine informs it has resumed all services based out of the Port of Tianjin following the deadly explosions that rocked the port August 12.

Container Ships

LNG-fueled Box Ship a 'Momentous Step Forward'

On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S.

ZIM Transitions Fleet to StowMan(s) Software

ZIM Integrated Shipping Services Ltd, Israel  has decided to enhance its stowage planning for its containership fleet (currently 93 ships) in the future by using

TOTE’s 2nd LNG Containership Launched

Shipping company TOTE and shipbuilder NASSCO on Saturday launched Perla del Caribe, the second of two Marlin Class ships – the first containerships in the world to be powered by natural gas.

News

Glosten Acquires Noise Control Engineering

Noise Control Engineering LLC (NCE), a consulting firm for ship noise and vibration control, has become a wholly owned subsidiary of Glosten, Inc. a Seattle-based

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Gunvor Emerges as Winner in Rosneft's Jumbo Oil Tender

Trading house Gunvor, which has been selling assets in Russia, has again emerged as the winner of a semi-annual Rosneft tender, traders said on Tuesday.   They said Gunvor would lift from 200,

Intermodal

Asia-N.Europe Box Rates Jump 26 pct

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped by 26 percent to $591 per 20-foot container (TEU) in the week ended on Friday,

CMA CGM-led Consortium Win Box Terminal Bid

The consortium formed by CMA CGM, Bolloré and CHEC won the bid process initiated by the Cameroonian government Following the bidding procedure initiated by the Cameroonian government,

DP World H1 Earnings Jump, Mulls Iran launch

DP World may launch operations in Iran, the company's chairman said on Thursday, as the global ports operator reported a jump in half-year earnings after buying assets from its parent company.

Logistics

LNG-fueled Box Ship a 'Momentous Step Forward'

On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S.

Fleet Growth Weighs on Product Tanker Earnings

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term,

Japanese Sub Pitch puts off Australian Firms

Japan had been seen as frontrunner for Australian submarine deal, but Australian defence firms unhappy after talks with Japan. A Japanese consortium eyeing a A$50 billion ($35.

 
 
Maritime Security Maritime Standards Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.6558 sec (2 req/sec)