Top three mainland developer China Vanke had a busy month in July, spending more than RMB 25.4 billion to add 33 new real estate projects around the country as it pushed to expand its land bank via project acquisitions in Shanghai, Dongguan, Hangzhou and other locations.
Along with the developer’s purchase of land for residential, office and retail development, however, Vanke also expanded its logistics holdings in China by purchasing Swire Cold Chain Logistics from Hong Kong-listed Swire Pacific for just less than RMB 2 billion ($291 million).
With the RMB 1.998 billion acquisition of Swire’s set of refrigerated shipping facilities, Vanke, which had already begun establishing a cold chain division of its logistics business, vaults into the ranks of China’s 10 largest temperature-controlled storage providers.
Vanke Adds Swire Client Lists to New Business
While Swire’s attempt to make some hot profit from providing refrigerated logistics services to companies shipping fresh food, pharmaceuticals and other perishables is understood to have brought disappointing results, Vanke leaders indicated that by combining Swire’s facilities, and the company’s existing client list, with its own logistics holdings, the company is enthusiastic about becoming one of China’s leading cold chain service providers.
Previous announcements by Swire Cold Chain Logistics have highlighted its work handling New Zealand fruit brand Zespri’s shipments of kiwi fruit in China, as well as receiving an award for its services from New Zealand’s Fonterra dairy.
At the event, Vanke officials pointed out that the logistics acquisition will enhance the company’s ability to serve first-tier markets in China, along with core port cities, including delivering one-stop warehousing and distribution service, according to a statement by the company . . . .
LOGOS has announced that it is expanding its Asia Pacific business into New Zealand with the acquisition of a property in Auckland from Fletcher Concrete and Infrastructure Limited, a subsidiary of Fletcher Building.
For reefers, the secure and sustainable use of energy is a crucial factor. Without energy the engines cannot run and the fruit will rot, so shipping lines need to rigorously check the supply of power to the containers which circulate fruit around the world on ships.
Emirates SkyCargo will be adding Santiago, Chile to its network Emirates SkyCargo opens up a new trade lane to South America Emirates SkyCargo, the freight division of Emirates, will be adding Santiago, Chile to its network of cargo destinations from 5th July 2018.
Perishables and e-commerce remain key growth sectors for the Australasia trade as the demand for fresh produce, seafood and meat in Asia continue to drive volumes out of Australia and New Zealand, while inbound e-commerce continues its unabated growth, writes Donald Urquhart in AirCargo week.