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Danish shipping company Maersk plans to invest more than US$500 million to strengthen its Southeast Asian supply chain operations with the aim of improving efficiency, reducing trade costs and increasing supply chain resilience.
It plans to add nearly 480,000 square meters of production capacity in key locations in Southeast Asia such as Singapore, Malaysia, Indonesia and the Philippines, and increase warehousing and distribution capabilities by up to 50%. The move is aimed at better coping with disruptions and challenges and ensuring smoother flow of goods and services. The investment is also consistent with Maersk’s commitment to sustainability, including exploring alternative fuels for shipping.
The company hopes the move will help reduce trade costs in Southeast Asia, provide end-to-end supply chain and logistics solutions, and provide customers with greater visibility and control.
(Source: pymnts Image source: freepik)
