Greek logistics is stepping up

Greek logistics is stepping up

The Greek supply chain sector showed a significant rise in the relative ranking of the World Bank for 2023.

This year, it ranks 23rd, from 42nd in 2018 (the last year the survey was carried out), based on six criteria. These include the level of infrastructure, customs clearance procedures, quality of services provided, ability to control and record goods, existence of competitive prices and time of delivery/receipt of goods.

The latter is a key factor, with the average time required for a container to travel from the port of entry to its destination via all existing international routes estimated at 44 days. At the same time, about 60% of the time it takes to transit goods is accounted for by sea routes, with the biggest source of delays being related to containers being stuck either at the point of origin or at the final destination.

“Our country’s truly impressive upgrade in the Logistics Performance Index (LPI) ranking has come to reward efforts to improve the supply chain and logistics sector. The continuous increase in expectations for logistics with a focus on Greece created a series of investment actions, mainly in the areas of the real estate market and the acquisitions of important companies in the sector,” Nikos Rodopoulos, former chairman of the board of directors of the Hellenic Logistics Company, noted to Kathimerini.

Indeed, logistics and warehousing and distribution properties are a magnet for investment. Improving delivery times in the “last mile” (from the last point of storage to the consumer), which ensures a competitive advantage for businesses, makes warehouses – especially high-end ones – attractive for capital.

Against this backdrop is mobility in logistics, fueled by real estate acquisitions by investment companies and the start of project implementation.

In this direction, the Patra-based Med Frigo Group and its subsidiaries Cargo Med and Med Energy were recently acquired by the funds Elikonos 2 SCA SICAR, EOS Hellenic Renaissance Fund, BEARONEM Limited and Mavridoglou. Also, US fund HIG Capital is developing into one of the biggest players in the Greek warehouse and distribution market, having recently completed the acquisition of 80% of Orphee Beinoglou.

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