Maersk wants to invest in Bangladesh’s shipbuilding

Danish shipping and logistics giant AP Moller-Maersk Line has expressed interest in directly investing in Bangladesh’s shipbuilding industry and also discussed investing in the country’s ship recycling sector.

The direct investment proposal was discussed at a meeting between Commerce Minister Khandakar Abdul Muktadir, Denmark’s Ambassador to Bangladesh Christian Brix Møller and AP Moller Singapore Pte Ltd’s Managing Director René Pihl Pedersen at the minister’s residence in Dhaka yesterday.

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At the meeting, the minister said Bangladesh could become an important destination for the environmentally sound and internationally compliant recycling of the company’s ageing vessels.

“Bangladesh could emerge as a promising hub not only for the recycling of old vessels but also for the construction of new ships,” the minister said, according to a statement from the Commerce Ministry.

Maersk operates a large fleet of vessels globally, making the company’s potential investment particularly significant for Bangladesh’s maritime industries, the minister said.

Bangladesh has developed substantial experience in both shipbuilding and ship recycling over the years, the meeting noted.

Greater participation by global companies could help the country attract capital, technology and skills while strengthening supporting industries, Muktadir said.