CMA CGM Group, the third largest container shipping company worldwide and number one in France, is slated to launch the Yangon Cambodia Express (YCX), creating a direct link between Myanmar, Cambodia, Singapore and Malaysia, and industry insiders are hailing the service as a promising new option for local importers and exporters.
The YCX will make its maiden voyage on January 3 sailing a route from Singapore – Port Klang (Malaysia) – Yangon (Myanmar) – Port Klang – Singapore – Sihanoukville Autonomous Port – Singapore, according to the company.
Cambodia Logistics Association (CLA) president Sin Chanthy told The Post on December 28 that Cambodia relies on transshipment in Singapore, Hong Kong and Vietnam as well as Thailand – he specifically named Laem Chabang in Chonburi province – for marine exports to Europe or the US.
Admittedly familiar with news surrounding the YCX, he commented that the service “provides more transport options for our country – cheaper and faster routes will reduce our costs. Therefore, opening up this new gateway is a fantastic way to boost imports and exports”.
Cambodia exported $17.258 billion worth of commodities in the first nine months of 2022, up by 22.06 per cent from the $14.139 billion recorded in the same period last year, according to General Department of Customs and Excise (GDCE) statistics.
In the January-September period, Cambodia’s international commodities trade hit $41.023 billion, up 18.01 per cent year-on-year, with imports to the tune of $23.764 billion, up 15.24 per cent. The Kingdom’s trade deficit for the period expanded by just 0.36 per cent to $6.506 billion.