Preferred Freezer Services Ties-Up with Orca Bay Seafoods

United States: Preferred Freezer Services announced the development of new 314,424 square-foot warehousing, distribution, and processing center in Federal Way, Washington. The center will include a 75,000 square-foot dedicated, customized processing facility independently operated by Orca Bay Seafoods Inc.

Preferred Freezer Services will offer its 3^rd Party Logistics Services from this temperature-controlled storage and distribution center. The company is a LEED®-certified designer, developer, and operator of facilities in the USA and global market. It's estimated that this seafood facility will provide 300 new jobs, the company plans to relocate four of eight small wetlands on or near the property for a total of 8,000-square-feet of land.

According to TechSci Research, the development of the facility in Washington by Preferred Logistics Services is set to improve the logistics and warehousing facilities of seafoods in the State of Washington. Moreover, the proposed tie-up with Orca Bay for the development of processing facility within the warehousing, distribution, and processing center is also set to improve both the company’s market in the region.

According to a recent report published by TechSci Research, “Global Cold Chain Market Forecast & Opportunities, 2020”, global cold chain market is expected to grow at a CAGR of over 11% during 2015-20. Currently, global cold chain market is fragmented, with a large number of players operating in the market. However, a number of mergers and acquisitions have been witnessed over the past decade. This trend is expected to continue over the forecast period, owing to which the market is moving towards consolidation in coming years. In terms of revenue contribution, North America captured the largest market share in 2014, and is expected to retain its dominance in global cold chain market over the next five years. Major players operating in the market include AmeriCold Logistics, Lineage Logistics, APL Logistics, Swire Group, Oxford Cold Storage, VersaCold, and Burris Logistics, among others.