Timo Lorenz is the General Manager, Sales, South East Asia of Noatum Logistics, a leading company in Supply Chain Management with global coverage positioned in the Top 50 freight forwarders worldwide.
Hi Timo, could you please introduce yourself?
Hola, I’m Timo Lorenz from Noatum Logistics, General Manager Sales for South East Asia (Singapore, Indonesia, Malaysia, Thailand, Vietnam, South Korea and Japan). In 2017 we moved from Shanghai to Singapore. We very much enjoy living in Singapore, we have two daughters who are going to Kindergarten.
Can you tell us the main activities and services provided by Noatum Logistics?
Noatum Logistics is part of Noatum, a leading maritime, logistics and port services group thanks to an extensive experience gained in nearly 60 years of business.
Noatum Logistics is a leading company in Supply Chain Management with global coverage, specialized in international transport, logistics solutions for eCommerce businesses, project logistics, customs clearance and positioned in the Top 50 freight forwarders worldwide.
We are present in 24 countries and through our team of over 1,600 professionals with great experience in our sector, we always put our motto “Excellence in Logistics Services” into practice by providing high quality services to our customers.
How would you briefly explain the company’s business strategy for Asia?
With our network coverage in Asia and dedicated local teams in each country we can fully support our clients also from the local perspective which is very important in our industry. With an innovative character we offer specific, integrated, complex and added value responses to our clients’ supply chain, prioritizing a long-term relationship of trust and confidence to support the business success.
How do you think the supply chain management of companies will change after the Covid-19?
For now, the impact of Covid-19 in the Supply Chain sector is severe. Air Freight rates are up 3-4x because more than 50% of the market capacity is missing due to the reduction of passenger flights.
Ocean freight rates are up 5-10x due to the Container imbalances caused by longer turnaround times of containers at the destinations: from 2-3 weeks to 6-9 weeks due to Covid restrictions resulting in less truck drivers, less staff at the warehouse and other delays. Another factor are the vessel delays due to longer berthing time at the ports, which are causing schedule interruptions.
This situation could well continue into 2022 and might only go back to normal in late 2022 or 2023. We expect freight rates to stay on a higher level compared to pre-pandemic rates. This will result in more regional sourcing in the future and more regional/local stocks. Companies will hold more buffers in order to be less affected by delays and rate increases. The warehouse demand will grow in the coming years.
How important do you think your business in Asia will be for Noatum Logistic in the medium-long term?
Our presence in Asia will continue to play an important role. The still rapidly growing consumer base in the region will still present great opportunities for years to come.
Would you like to make a recommendation to someone thinking about coming to Singapore?
Singapore is a great and interesting place to be. Anyone who is presented with the chance of staying here longer, should not hesitate to come and be a part of this vibrant, multicultural, and fascinating island.
Where do you like to go in Singapore when you have free time?
The East Coast Park offers many activities like walking, running, cycling, swimming, having a picnic, dining, wakeboarding, and stretching from the busy City Centre all the way to Changi Airport.
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