Yusen Logistics is beefing up its footprint in Turkey by partnering with Turkish logistics provider İnci Logistics.
Yusen Logistics, the supply chain division of NYK Group, launched activities in Turkey in October 2012 under the name Yusen Logistics Turkey, while İnci Logistics was founded in 1997 and provides ocean and air freight services to the U.S., America, Far East, Middle East, Africa and Europe, and land transportation and storage solutions to Europe and the Russian Commonwealth. İnci Logistics has a total warehouse space of 322,917 square feet, with offices in İstanbul, İzmir, Bursa, Manisa and Aydın.
“This collaboration reflects increasing Turkish foreign trade and the need for competitive solutions for export traffic to a growing number of countries, as well as the needs of global brands in the Turkish domestic market,” said Perihan İnci, president of İnci Holding, the parent of İnci Logistics, in a statement. “We are now in a position to accelerate our development in the sector, as Yusen Logistics is already active in countries where there is a concentration of Turkish foreign trade.”
The Turkish logistics industry is currently worth $80 billion to $100 billion, and is forecast to reach $108 billion to $140 billion by 2017, Perihan İnci said.
Turkey’s economy grew at a slower pace than expected in the second quarter of 2014, following months of political uncertainty and violence in Iraq and Syria, FT.com reported. Its gross domestic product growth slowed to 2.1 percent in the second quarter, below most forecasts and down from a revised 4.7 percent year-over-year gain in the first quarter, according to the publication.