The world’s biggest logistics real estate company Prologis and one of the biggest global logistics players, Yusen Logistics, have revealed they are combining to create a major new European sustainable logistics facility for Mitsubishi Electric.
Yusen Logistics will use the facility in Bottrop, Germany, as a new European central warehouse for Mitsubishi Electric. The 60,000 sq ft centre is expected to save an estimated 7,000 tonnes of CO2 every year, and is slated for completion by the end of 2024.
But who, exactly, are Prologis and Yusef Logistics, and what roles do they play in global logistics? Here, we profile the two companies.
Who is Yusen Logistics?
Yusen is a Japanese global logistics and supply chain management company. It describes itself as “an insight-driven, customer-centric logistics partner to global business”, and delivers a range of services that cater for the full supply chain, including international freight forwarding, contract logistics, supply chain solutions and industry insights.
Yusen operates a global air and ocean freight forwarding service from an office network spanning the US, Europe and Asia. It employs an estimated 24,000 people in 550 locations across 46 countries and regions.
As a global supply chain leader, it provides its customers with business intelligence and tracking through in-house systems that “support efficient and accurate control of shipments”.
As well as expanding its presence in Europe, Yusen Yusen Logistics is also targeting the South Asia market, and recently established a 100,000 sqm ‘logistics campus’ in northern Vietnam, a country in which it first established a presence in 2004.
In total, the company says it owns around 2.96 million sqm of strategically positioned warehouse space globally.
Like many logistics players, the company is digitally transforming its operations in order to meet the modern needs of its customers.
“Across every product line we can see consistent themes from our customers that transcend price,” it says. “They are looking for a provider to provide new and different ways to add value to their supply chain.”
It adds: “The challenges our customers face are multiplying as global supply chains become ever more complex and dynamic.
“At the same time, our customers are coming under increasing pressure to develop profitable and sustainable responses to climate change, resource constraint, waste, ethical sourcing and supply chain transparency.”
Who is Prologis?
Prologis is one of the largest industrial real estate investment trusts. It specialises in the development, leasing, and management of modern logistics facilities, including warehouses and distribution centres.
The company’s properties are located strategically in key logistics hubs worldwide, and are designed to help provide efficient supply chain operations across a diverse range of industries.
The annual Prologis Logistics Rent Index provides a telling snapshot of the state of the logistics industry, combining the company’s local insights on pricing with data from its global portfolio.
Its 2023 Index showed that logistics real-estate rent growth was 6%, “amid positive demand, low vacancy and the need to evolve supply chains in response to changing consumer expectations, operational challenges and persistent disruption”, it said.
Other headline findings were that Latin America led the world, with Mexico rents surging 19%, driven by the emergence of nearshoring.
In Europe, Prologis said markets are divided into:
- Supply-constrained markets (Germany and the Netherlands)
- Modest growth markets (France)
- High-cost markets (London and Prague)
- Concession markets (Poland)
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