The world’s largest shipping and logistics groups are locked in an increasingly intense rush to buy facilities in Asia in a bid to help their customers expand supply chains beyond China.Competition for assets has been fuelled by cash reserves that freight groups worldwide built up when disruption and increased ecommerce spending boosted demand for logistics services during the Covid-19 pandemic.
Businesses including German container carrier Hapag-Lloyd and Denmark-based AP Møller-Maersk have invested in ports, warehouses and other logistics infrastructure. The facilities support the increasingly complex supply chains developing between countries including Vietnam, India and Malaysia.
Dheeraj Bhatia, who oversees Hapag-Lloyd’s business in India, said competition to invest in these markets was increasing as they attract more of the offshore manufacturing that previously focused on China.