Global political tensions continue to stop or slow down the flow of raw goods and experts are predicting that the supply chain mess will not end anytime soon. One agribusiness company was one step ahead in this situation and used what it already had to grow its business.
SGX-listed Golden Agri-Resources’ (GAR) head of investor relations, Richard Fung, said their firm’s supply chain was “barely” hit by the Ukraine-Russia war because of their shipping facilities and their partnership with Stena Bulk from Scandinavia, which has had a joint venture with GAR, Golden Agri-Stena, since 2013.
“[Golden Agri-Stena] helps us to be more independent in terms of being able to distribute our products so that when the Ukraine conflict started, we were well-prepared and saw a limited impact on our operations,” said Fung.
Aside from Stena, GAR has joint ventures with GSB Tankers and Sinar Mas LDA Maritime.
Data from its website showed that GAR shipped over 4 million metric tonnes of cargo in 2020 and delivered cargo to 45 ports worldwide.
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