Karzo Business and Logistics Newsletter

March 2021

Welcome to Karzo's March Business and Logistics Newsletter. Both international and domestic press continue to cover the ongoing impact and uncertainty following the Tatmadaw's seizure of power on 1st February. Protests spearheaded by the Civil Disobedience Movement (CDM) have significantly impeded industry and banking sectors. This is seen none more so than in the manufacturing and agriculture industries in which supply chains have near-ground to a halt. Whilst some logistics players are endeavouring to service clients' requirements, this is only where it is both possible and safe for teams, clients, partners, fleet and drivers. In wider news, shipping tech start-ups have seen a 'huge surge' in interest, fuelled by recent 'amazing' valuations.

Myanmar Local News

'Nothing is moving': CDM freezes foreign trade, raising fear of shortages
Striking truck drivers, bureaucrats and bank workers have brought international trade through Yangon’s ports to a standstill, with exports estimated to be down as much as 90 percent since February 1. Read More

Global & Myanmar Business News

For foreign investors in Myanmar, coup adds new uncertainties
On February 1, Vijay Dhayal, an Indian business consultant in Myanmar’s biggest city, Yangon, received a call at 6am (23:30 GMT) from a member of his team telling him that a coup was under way, plunging what had been a routine Monday morning into turmoil. Read More

Value of gold continues to soar in Myanmar
The domestic price of gold continues to rise as a result of the country’s ongoing political turmoil, said players in the industry. Read More

Political unrest turns Myanmar’s agriculture sector sour
Myanmar’s agriculture sector is turning sour due to the country’s ongoing political unrest. Read More

H&M puts pause on new orders in Myanmar
Swedish fashion giant H&M says it will not be placing any further orders in Myanmar for the time being because of the uncertainty in the country following the military coup. Read More

Uncertainty continues to shroud Myanmar's clothing industry
Clothing industry executives and experts within Myanmar have warned that the country's apparel sector is already suffering because of the 1 February coup, when the military seized power and detained Aung San Suu Kyi and other elected leaders. Read More

Liner operations disrupted in Myanmar
The continuous social upheaval in Myanmar has disrupted the liner operations at the country’s ports, causing service suspensions and delays. German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar as the political situation in the Southeast Asian country intensifies. Read More

Import & Export

Myanmar’s corn exports on the rise but Thai imports more than halved
Corn exports to Thailand at the Myawady trading post are growing but imports from the Southeast Asian neighbour have fallen. Read More

Supply chains unravel as Myanmar military escalates retaliation to protests
As the post-coup crisis in Myanmar escalates, more shipping lines have suspended cargo bookings and closed local offices. Read More

E-Commerce

Internet cut spells trouble for online businesses in Myanmar
Myanmar’s online businesses are struggling due to the military government’s night-time curfew and internet outage from 1am to 9am. Read More

Technology

Shipping tech startups: ‘Amazing’ valuations, ‘huge surge’ in interest
This could be a turning-point year for maritime tech startups — particularly those with a green twist. For a reason why, look no further than the January IPO roadshow presentation of ocean carrier ZIM (NYSE: ZIM). Read More

USD-MMK FX Rate
15/02/2021 - 1401.4
15/03/2021 - 1418.5
Source: https://forex.cbm.gov.mm/index.php/fxrate

Premium Diesel Yangon
15/02/2021 - 785 MMK
15/03/2021 - 870 MMK
Source: https://maxenergy.com.mm/#pricelist

Karzo manages the largest virtual truck fleet in Myanmar providing goods transportation for corporate enterprises & SMEs moving cargo anywhere in the country.

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