PRW construction lowing in Europe, but booming in Middle East and Asia: overcapacity in the Netherlands and other EU countries, as well as ongoing pressure on rates, will have to be sorted out before the next surge in expansion takes place in Europe.

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PRW construction lowing in Europe, but booming in Middle East and Asia: overcapacity in the Netherlands and other EU countries, as well as ongoing pressure on rates, will have to be sorted out before the next surge in expansion takes place in Europe.(Warehousing World)

Publication: Quick Frozen Foods International
Publication Date: 01-APR-08

Format: Online
Delivery: Immediate Online Access

Article Excerpt
Even though the public coldstores in most West European countries, except for Ireland, have good occupancy rates, large-scale new construction or substantial expansion is not to be expected in the near term, because returns are simply not attractive enough at the moment. That's the opinion of...

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...Theo van Sambeeck, a principal of ColdStoreDesign.com, based in Zwolle, the Netherlands.

Operators have only been able to realize modest price increases lately, but these don't even begin to compensate for rate cuts made in the past years. Furthermore, refrigerated warehouse executives indicate there is structural overcapacity. According to what they tell Van Sambeeck, in the Netherlands alone, about 30% of the public coldstores would have to be reorganized in order to bring the industry back into balance in terms of supply and demand.

Central Europe will see some construction of new public refrigerated warehouses. In countries such as Romania and Bulgaria there are several projects in the pipeline, reported Van Sambeeck. In Poland large public coldstores (partly dedicated) are under construction, also as a result of Unilever's policy to reduce its number of warehouses from 600 to...

NOTE: All illustrations and photos have been removed from this article.

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