July 04, 2017

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Myanmar shipping company eyes services to EU

The U Tha vessel just before her maiden voyage. Photo supplied by Myanma Five Stars Line.
The U Tha vessel just before her maiden voyage. Photo supplied by Myanma Five Stars Line.

Myanmar Five Star Shipping Line has acquired the U Thar bulk carrier vessel, with which it plans to expand its services to Europe, according to a statement issued by the shipping company.
“MFSL is planning to expand its services to European countries so that Myanmar will be totally freed from the economic sanctions imposed by the EU,” said the statement.
Five Star will also use U Thar for its ongoing shipping services around Asia.
After taking over the over shipping line from the Ministry of Transport on 1 April, 2010, Myanmar Economic Holdings Ltd sold its seven vessels in order to reduce its expenses and bought three new vessels.
U Thar was built at Shikoku Dockyard in Takamatsu, Japan, and can carry more than 18,000 tonnes of cargo.
The shipping line expects two more vessels from Japan, but the statement did not mention when they would arrive in Myanmar.
Myanmar Five Star Shipping Line was established in 1959 by the Myanmar government.

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