Maersk Line and MCC Transport are confirming plans of opening a branch office in Myanmar following the suspension of EU and US trade sanctions in 2012 and strong economic outlook.
After twenty years of experience in Myanmar, operating under third party agency representation, Maersk Line and MCC Transport will increase their presence by stationing a permanent owners’ representative in Myanmar.
“I find it very exciting that we have received approval for a permanent representation in Myanmar which will allow us to be a part of the rapid development we will undoubtedly see in Myanmar in the coming years” said Henrik Jensen, MD, Maersk Thailand.
The aim is to open a branch office in the second half of 2013 to assist Maersk Line’s global customers in entering the market and successfully sourcing goods to and from Myanmar, a market reaching 400,000 TEU in 2012.
Myanmar is the last untapped market in South East Asia. It has significant natural resources, a large population, and is strategically located between two of the world’s largest economies, India and China.
Following five decades of military rule that came to an end in 2011, Myanmar has rapidly undertaken significant reforms to stimulate foreign direct investments and international trade. The suspension of EU and US trade sanctions in 2012 has further boosted international focus on Myanmar.
With a population of 60 million, Myanmar has the potential of becoming one of the largest consumer markets in South East Asia, while the low cost of labour is attracting low end manufacturing and production companies.
Maersk Line has a high frequency with 4 sailings per week departing from Yangon and competitive slot costs on the feeder service.
Heading up Myanmar as Maersk Line’s owner representative will be My Therese Blank, who joined Maersk Line 2006 (in Sweden) and was stationed in Myanmar as owners’ representative during Q4 2012. She is expected to start up her role in Myanmar in March 2013.
source : Maersk Line Shipping Official Website