COPENHAGEN — Danish shipping company Maersk&nbsp;on Monday (Dec 4) said it will invest more than US$500 million (S$670 million) to expand its supply chain infrastructure in South-East Asia.

Maersk intends to scale up its warehousing and distribution in the region by up to 50 per cent and expects to add nearly 480,000 square metres of capacity across Singapore, Malaysia, Indonesia and the Philippines by 2026, it said.

The planned three-year investment aims to strengthen supply chain resilience and lower the cost of trade, which tends to be two to three times higher in certain Asian markets, Maersk added.

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The world's first methanol-fueled container vessel Laura Maersk, owned by shipping company Maersk, is seen in Copenhagen, Denmark, Sept 14, 2023.

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Reuters

COPENHAGEN — Danish shipping company Maersk on Monday (Dec 4) said it will invest more than US$500 million (S$670 million) to expand its supply chain infrastructure in South-East Asia. Maersk intends to scale up its warehousing and distribution in the region by up to 50 per cent and expects to add nearly 480,000 square metres of capacity across Singapore, Malaysia,...

Maersk to invest more than $670m to boost South-East Asia supply chain