Maersk today announced the expansion of its warehousing footprint in Chattogram. Maersk has partnered with ISATL to begin the second phase of its partnership with ISATL, which will provide its customers with exclusive access to a 210000-square-foot state-of-the-art export customs bonded warehouse. The warehouse is tailor-made to meet the needs of retail and lifestyle goods exporters and is expected to be commissioned in April 2024.
As customer demand continues to grow, Maersk in Chattogram opened a 210,000 square foot warehouse to reinforce its Bangladesh commitment.
Vikash Agarwal, Managing Director of Maersk South Asia, Agarwal Vikash, said: "We will continue to invest and strengthen our commitment to Bangladesh and expand our 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. "
recently, Bangladesh's exports have slowed slightly as the ongoing geopolitical situation has led to reduced demand for retail and lifestyle goods in Western markets. However,, this trend is expected to improve as inventory replenishment begins, boosting foreign exports. With demand again picking up and storage capacity limited in the market, Maersk aims to close the gap between increased demand and supply shortages with this facility in Chattogram. "
Maersk and ISATL first collaborated and reached an agreement in late 2021, and within 14 months, ISATL provided Maersk with 200,000 square feet of custom bonded warehouse for export. Given ISATL's expertise and proven track record in delivering warehouses of this size, this makes it an obvious choice for Maersk to collaborate on this expansion. "
Maersk is also partnering with Vertex Depot to provide an additional 100000 square feet of storage space, which was completed in early February this year. In a recent expansion, Maersk offered more than 500000 square feet of space. In the Chattogram's dedicated export warehouse, a 1-foot export warehouse is provided to its customers. In addition, Maersk is offering an additional 300000 square feet of leased space. The Financial Times. Flexible warehousing capacity through local partners to meet the short-term needs of customers. In markets with limited capacity, this expansion will help Maersk's customers ensure long-term consolidation space and create operational stability, thereby eliminating uncertainty, especially during peak seasons.
Source: Maersk website