AP Moller – Maersk marking the second phase of its partnership with ISATL expands its warehousing footprint in Chattogram, Bangladesh.
The new expansion will grant exclusive access to its customers to 210,000 square feet of a state-of-the-art export custom bonded warehouse. As per the company, the new warehouse will be tailor-made to suit the needs of the exporters of retail and lifestyle commodities and should be available by April 2024.
At the end of 2021, Maersk and ISATL collaborated for the first time, under the agreement ISATL within 14 months, providing 200,000 sq ft of export custom bonded warehouse to Maersk.
Maersk also offers another 100,000 square feet of warehousing space in partnership with Vertex Depot, which was inaugurated last February. With the latest expansion, Maersk offers its customers over half a million sq ft of a dedicated export warehouse in Chattogram. Further, the company also offers another 300,000 sq ft of flexible warehousing capacity through local partnerships to customers in case of short-term requirements.
This new expansion will assist Maersk’s customers to have assured access to consolidation space on a long-term basis, in a market with capacity constraints. This will consolidate space on a long-term basis, creating stability of operations and thereby eliminating uncertainty, especially during the peak seasons, the company said.
“The company continues to invest and strengthen its commitment to Bangladesh by expanding its footprint in the country. We strongly believe in the potential of this country and its exporters, and we are fully committed to participating and playing a role in their respective growth stories,”Vikash Agarwal, Managing Director, Maersk South Asia
Bangladesh, in recent times, has been witnessing a slight slowdown in exports owing to the ongoing geopolitical situation that has led to reduced demand for retail and lifestyle goods in the Western markets.
However, the trend is expected to turn around as inventory restocking begins, boosting exports out of the country. With the demand picking up again and limited warehousing capacity in the market, Maersk aims to close the gap between higher demand and shortage of supply through this facility at Chattogram.