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Tag: cold chain

  • Sajo Seafood Buys Hines Cold Chain Shed in Greater Seoul for $65M

    Sajo Seafood Buys Hines Cold Chain Shed in Greater Seoul for $65M

    Sajo Seafood agreed to buy a Greater Seoul cold storage warehouse from Hines and Pebblestone Asset Management for KRW 90 billion ($65 million).

    The purchase gives the South Korean tuna processor and deep-sea fishing group full ownership of Hines Logistics Namyang in Hwaseong, Gyeonggi province. Sajo said the acquisition will expand its storage operations and add a direct distribution hub serving the capital region.

    Payment Schedule and Asset Specs

    Regulatory filings show Sajo paid an initial 10 percent deposit of KRW 9 billion. A second installment of KRW 18 billion falls due on 30 September, with the final KRW 63 billion balance scheduled for payment when the property transfers on 26 November.

    At the agreed price, Sajo is paying just under KRW 2 million per square metre of floor space. Completed in 2023, the four-level facility spans 487,258 square feet of gross floor area across ambient and refrigerated zones, featuring full ramp access, 10-metre clear ceiling heights, and floor load capacities up to 2.5 tonnes per square metre. E-commerce giant Coupang Fulfillment Services and Korea Food Services Corporation occupy space as key tenants.

    Shifting Cold Chain Capital

    Houston-based Hines and Seoul-based Pebblestone broke ground on the Namyang site in late 2021 as Hines made its first direct property investment in South Korea. The exit allows both managers to return capital after building out the multi-temperature asset from scratch on a 30,658-square-metre plot.

    Food producers across East Asia continue to buy dedicated logistics hubs rather than rely entirely on third-party cold chain operators, aiming to lock in temperature-controlled capacity near dense urban populations. The Hwaseong site sits within 50 kilometres of 21 million consumers, positioned between Incheon Airport, Incheon Port and Pyeongtaek Port.

    Hines has stepped up capital recycling across Asia, selling a Tokyo office tower to LaSalle Investment Management while acquiring Singapore retail assets. The final ownership transfer for the Hwaseong cold storage facility remains on track for completion on 26 November.

  • Kerry Logistics Expands Food Cold Chain Business in China

    Kerry Logistics Expands Food Cold Chain Business in China

    Kerry Logistics Network Limited (‘Kerry Logistics’; Stock Code 0636.HK) has expanded its food-related cold chain capability in mainland China through the establishment of Kerry Cold Chain Solution Ltd (‘Kerry Cold Chain’), to tap into the fast-growing domestic market of niche food products.

    Kerry Cold Chain is a joint venture company formed with Shanghai Zhizhen Logistics Co Ltd (‘Zhizhen Logistics’) in which Kerry Logistics holds the majority interest. It provides comprehensive integrated cold chain logistics solutions from upstream to downstream. 

    Using self-owned cold chain facilities and partnering with local expertise, Kerry Cold Chain will handle a wide range of food products, from raw ingredients to dairy product additives.

    Edwardo Erni, Managing Director – China and North Asia of Kerry Logistics, said, “The market for food-related cold chain logistics in mainland China is immense with enormous growth potential. There is also ample room for technological growth to reach international standards.

    “Intending to fill a gap in the market, we welcome the collaboration with Zhizhen Logistics, which marks an important strategic step for Kerry Logistics to extend its footprint in the domestic cold chain logistics market, enhancing our service offerings and competitiveness.”

    Kerry Cold Chain currently operates more than 1 million sq ft of ambient and cold chain facilities in China, including a temperature-controlled facility of over 50,000 sq ft in Shanghai featuring automated storage and retrieval systems.

    Founded in 2008, Zhizhen Logistics serves the logistics needs of both domestic and international customers from locations across China including Beijing, Tianjin, Wuhan, Guangzhou, and Shenzhen. It commands a 90% market share for imported food essences in the Shanghai region.

    With a wealth of experience in cold chain logistics, Kerry Logistics offers seamless F&B solutions with complete cold chain integrity to food chain stores and restaurants in Hong Kong as well as hypermarkets and frozen food retailers in Taiwan.

    The Group also runs cold chain facilities of 70,000 sq ft in Oceania, serving supermarket chains, convenience stores, independent retailers, and food importers.

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  • DHL beefs up cold chain to US and Asia

    DHL beefs up cold chain to US and Asia

    DHL Global Forwarding, the air and ocean freight specialist of Deutsche Post group, says it is going to accelerate the supply chain for the north Norwegian seafood industry.

    DHL has started shipping live crabs and seafood from the Lakselv Airport Banak in north Norway to Asia and Northern America.

    On dedicated weekly flights, DHL transports the fresh seafood to the DHL terminal in Oslo, from where the freight is sent to South Korea and other destinations such as Japan or the United States.

    From the origin, which is only 100km from the North Cape, to its destination in Asia the whole logistics is exactly timed, ensuring the shipments are delivered in perfect condition.

    Tim Robertson, head of Air Freight, DHL Global Forwarding, Americas, said: ‘Thanks to our team of experts, who understand temperature control requirements, regulations, food safety and quality control guidelines, this seafood and fish is able to get to market and to consumers in the most expedient way possible.’

    DHL said transporting the fresh seafood by plane allows it to cut the lead time nearly by 50 per cent. This ensures that living crabs and other fresh seafood arrive at their destination in the best condition.

    Bjørn-Erik Stabell, marketing manager for salmon and trout at the Norwegian Seafood Council, said: ‘Time is of the essence when it comes to delivering fresh seafood of the very best quality. Norway is a long country, and with a large proportion of seafood being produced in the north, this air freight route is an important contribution to efficiently reaching seafood consumers across the world.’

    DHL is aiming to increase the frequency of deliveries from Oslo to Asia to three flights per week. From Oslo, almost 90 per cent of the fish is flown directly to Seoul in South Korea, while approximately 10 per cent is further directed to destinations in the US, Japan and China.

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