🧊 New Cold Chain Emerging Leaders Programme

Welcome back to CubeCold News where we cover the latest developments in the cold chain industry and temperature-controlled logistics.

In today’s edition:

• Cold Chain Federation launches new Emerging Leaders Programme

• Lineage to seek $3B-plus IPO

• GCCA Cold Chain Index

• Latin America’s cold chain landscape

• Overhaul launches AI solution for cold chain tracking

• Sensitech to acquire Berlinger & Co. Monitoring Solutions

News

Cold Chain Federation launches new Emerging Leaders Programme The Cold Chain Federation has launched a new initiative called the Emerging Leaders Programme, targeting the development of future leaders in the temperature-controlled logistics sector.

• Announced for commencement in 2024, the programme will annually select two individuals deemed emerging leaders.

• These chosen participants will benefit from a customized leadership training course, gain access to key industry events, and receive media communication training.

• Nominations for the programme are open until August 9, 2024, with the winners to be revealed at the Cold Chain Live! event in 2024.

• The program is a strategic move to support the growth and sustainability of the temperature-controlled logistics sector by investing in its human capital. (link)

Lineage to seek $3B-plus IPO Lineage Logistics is preparing to launch an initial public offering (IPO) aiming to raise over $3B.

• This move is anticipated to be the largest IPO of 2024.

• The company is collaborating with prominent financial institutions, including Morgan Stanley and Goldman Sachs, to facilitate the offering.

• While Lineage could seek to raise as much as $3.5 billion, the total valuation of the company is expected to exceed $30 billion.

• Lineage has rapidly expanded through a series of acquisitions, positioning itself as a global leader in the cold storage sector.

• The final details of the IPO, including its size and timing, are still under discussion and have not been finalized​. (link)

Navigating Latin America’s cold chain landscape Maersk's white paper on the cold chain landscape in Latin America outlines the region's significant opportunities despite recent challenges.

• The paper emphasizes the critical need for robust cold chain infrastructure to maintain product quality and minimize food loss, particularly for perishable goods like seafood, fruits, vegetables, and flowers.

• Key challenges identified include inadequate infrastructure, multiple handoffs in the supply chain, and inconsistent temperature control and visibility.

• To address these challenges, the paper highlights the importance of integrated logistics solutions that provide end-to-end cold chain management.

• Maersk's Remote Container Management (RCM) system and its virtual assistant, Captain Peter, are pivotal in ensuring optimal performance by providing continuous monitoring and actionable insights into the conditions inside refrigerated containers. (link)

GCCA Cold Chain Index The Global Cold Chain Alliance (GCCA) has released the first-quarter 2024 data from its Cold Chain Index (CCI).

• The CCI, established in 2018, tracks the growth rates of costs associated with cold storage using official economic data sources.

• This tool can be customized to specific regions, states, and metropolitan areas where warehouse facilities operate, allowing GCCA members and their customers to better understand and manage cost variations.

• In the first quarter of 2024, expenses for refrigerated warehouses increased by 6.47% compared to the same period in 2023.

• While rents continued to rise, their growth rate has slowed compared to the previous two years.

• Labor costs saw a significant rise of 7.2%, whereas electricity costs declined by 2.96% nationwide.

• This resource is exclusive to GCCA members, who can download the report and template for free. (link)

Overhaul launches AI solution for cold chain tracking Overhaul has launched an innovative AI-driven Cold Chain Quality Solution aimed at enhancing the management of time and temperature-sensitive cargo across various sectors, including pharmaceuticals, healthcare, and high-value food and beverages.

• The key features of Overhaul's solution include comprehensive monitoring with real-time, multimodal visibility and shipment tracking, advanced temperature control using predictive analytics, enhanced security through global control tower operations, and rapid deployment of IoT devices that integrate seamlessly with existing systems.

• Additionally, the solution complies with Good Distribution Practice (GDP) guidelines, ensuring the highest standards in transportation.

• The implementation of this solution has already demonstrated impressive results, such as saving $1M by preventing spoilage, reducing shipping costs by 30% for a vaccine distributor, and achieving 99% perfect order delivery with zero spoilage for a global cold chain distributor. (link)

Sensitech to strengthen life sciences cold chain solutions with acquisition of Berlinger & Co. Monitoring Solutions Carrier Global Corporation has announced that its subsidiary Sensitech will acquire the Monitoring Solutions business of Berlinger & Co. AG.

• Berlinger, a Swiss family-owned company, is renowned for its high-quality temperature monitoring solutions, crucial for ensuring the integrity of temperature-sensitive products during transportation.

• This strategic acquisition aims to strengthen Sensitech's position in the life sciences sector, particularly in the pharmaceutical and biologics industries.

• This acquisition will improve real-time visibility, data analytics, and regulatory compliance for critical healthcare shipments, ensuring that products remain within required temperature ranges throughout the supply chain.

• While the financial terms of the deal have not been disclosed, the acquisition is expected to be completed within the year. (link)

Other headlines

Nichirei Logistics Group has announced the acquisition of Admark Shipping Solutions Ltd.

GreenPower Motor Company has unveiled an all-electric refrigerated medium-duty delivery truck for mid to last-mile delivery.

Ryder has received the Top 3PL & Cold Storage Providers Award by Food Logistics for the 12th consecutive year.

Logistics Plus has received the Ocean Integrity Plastic Neutrality Certification for the fourth consecutive year.

The Biden Administration has announced a National Strategy to Reduce Food Loss and Waste, aiming to cut food waste by 50% by 2030.

That’s it for today!

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