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 June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

WEG to Showcase Drive Solutions at SMM

WEG, a global supplier of drive systems, will showcase its range of systems for the shipbuilding and offshore industry at this year’s SMM (Shipbuilding, Machinery & Marine Technology Fair) in Hamburg.

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

News

NSRP Risk Management Panel and SCA Joint Meeting

The National Shipbuilding Research Program (NSRP) Risk Management Panel will be meeting jointly with the Shipbuilders Council of America (SCA) November 5-6, 2014 in Virginia Beach, Va.

US DOE Approves Oregon LNG Export Project

The U.S. Energy Department said on Thursday it has approved Oregon LNG to export liquefied natural gas, as the Obama administration works through applications to

CFOA Schedules Annual Conference

The 2014 Canadian Ferry Operators Association (CFOA) annual AGM & Conference is scheduled to take place September 29-30 in Quebec City. The two-day conference

Logistics

Kurdistan Says Crude Cargo Near Texas Legally Sold

A $100 million cargo of crude oil in a tanker near Texas was legally shipped and sold by Kurdistan, lawyers for the autonomous region in Iraq told a U.S. court in a letter seen on Thursday,

Redwood City Sees Cargo Movement Boost

Port of Redwood City reports 19% increase in cargo movement; highest since 2006 and third highest in modern history Reflecting a significant increase in construction

UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.2260 sec (4 req/sec)