A.P. Moller-Maersk has obtained a permanent business license to operate three container shipping lines in Myanmar.
It will officially open its own office in Yangon in May to handle the activities of global carrier Maersk Line, intra-Asia liner MCC Transport, and north-south and Africa specialist Safmarine.
“We are pleased to be granted a permanent business licence 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.
Macroeconomic indicators signal continuous growth in the country due to infrastructure development and investments in industries such as agriculture and garment.
“We have confidence in Myanmar’s long-term economic growth potential,” said Blank. “Containerised trade has been growing by 17 percent annually on average from 2007 to 2013, and we expect the positive trend to continue.”
She forecasts container volumes in the country to expand by 2020 to 600,000 forty-foot equivalent units of containers, four times the current level.
The Maersk group’s three container shipping businesses have operated under a third-party agency for the past 20 years.
By increasing its presence in Myanmar, the company sees more opportunities to increase regional trade as the Association of Southeast Asian Nations, of which Myanmar is a member, gears up for economic integration.
“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,” Blank continued.
The conglomerate is also represented in the country by Damco, a subsidiary which handles supply chain management and freight forwarding. Damco received its permanent license to operate in Myanmar in July last year.
