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Over 152 larger ships above 30,000 DWT arrive Yangon, Thilawa ports in five months

Yangon inner terminals and outer Thilawa Port received over 152 larger ships of above 30,000 DWT (Deadweight tonnage) in the past five months (February-June) after the draft limit has extended up to 10 metres, and a new navigation channel developed accessing to inner Yangon River. Starting from May, more ships enter Yangon terminals which handled over 11,000 containers and 115,000 metric tons of general commodities, according to a statement of Myanma Port Authority. In June, 40 container ships docked at the terminals.

The draft extension is up to 10 metres, and the international ocean liners can access the inner port for now Myanmar Port Authority ensures smooth freight flow with non-stop operation during the public holidays (17-25 July). Earlier, the larger ships have draft problems preventing their sailing on the Yangon River. The draft was extended to 10 metres. The value of Myanmar’s maritime trade over the past nine months (1 October-9 July) of the current financial year 2020-2021 sank to US$14.29 billion, which plunged from $3.765 billion during the year-ago period, according to the Ministry of Commerce. While maritime exports were valued at $6.3 billion, imports had registered $7.7 billion.

Myanmar witnessed a slump in exports and imports triggered by the coronavirus pandemic. Both sea trade and border trade dropped amid the coronavirus impacts and the political changes. For maritime trade, disruption in the logistic sector and cargo shipping crisis triggered by the COVID-19 impacts battered the maritime trade somehow. Myanmar exports agricultural products, fishery products, minerals, livestock, forest products, finished industrial goods, and other products, while it imports capital goods, consumer goods, and raw industrial materials. The country currently has nine ports involved in sea trade. Yangon Port is the main gateway for Myanmar’s maritime trade. It includes the Yangon inner terminals and the outer Thilawa Port.

Source: The Global New Light of Myanmar

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Myanmar exports drop 13.5% amid global pandemic

The COVID-19 pandemic affected the country’s exports in the past nine months (1 October-9 July) of the current financial year 2020-2021, with a drop of 13.5 per cent as against last FY. Myanmar’s exports over the past nine months touched a low of US$11.98 billion, reflecting a tremendous drop of over $1.87 billion compared with a year-ago period of the previous FY, according to data from the Ministry of Commerce. During the corresponding period in the previous FY, exports stood at $13.86 billion, according to data released by the ministry.

The pandemic deals a severe blow to the manufacturing, livestock, fishery, forest, mineral and other service sectors as it disrupted the transport, supply chain and logistics sectors and shut down the events. Additionally, most people demand only staple food. As a result of this, the export sees the growth in the agriculture sector only this year. Drop in the exports of natural gas, gems and jewellery and CMP garments are contributing factors to the slump in exports, the Ministry of Commerce’s statistics showed. Both sea trade and border trade dropped amid the coronavirus impacts. The neighbouring countries restricted the border posts to contain the spread of the virus.

Pandemic-induced container shortage pushed up the freight rates in Myanmar, causing delays for exporters. Of the seven export groups, agricultural exports showed an increase of $953.74 million against a year-ago period whereas exports of livestock, forest products, minerals, fishery products and finished industrial goods drastically declined. Between 1 October and 9 July of the current FY, export values were registered at $4.1 billion for agro products, $17.37 million for livestock, $606 million for fishery products, $750 million for minerals, $101.6 million for forest products, $5.98 billion for manufactured goods, and $430.29 million for other goods. This year, Myanmar’s top export countries are listed China, Thailand, Japan, India, the USA, Spain, Germany, the UK, ROK and the Netherlands.

Source: The Global New Light of Myanmar