Liner shipping giant Hapag-Lloyd has reportedly explained today that has set up with Brazilian shipping and waterway logistics company Norsul, a new joint venture to start offering container cabotage and feeder services in Brazilian ports in the first quarter of 2024.
The jv called “Norcoast” which is based on a 50-50 partnership, will be an independent company in the sector, leveraging the strength of both parent companies, Hapag-Lloyd announces via press release.
It will be headed by Gustavo Paschoa, chief executive of Norcoast, who brings with him extensive industry expertise in the Brazilian transport and logistics sector, including previous senior management positions at Norsul, Damco, DSV and Penske Logistics.
Andrés Kulka, senior managing director region Latin America at Hapag-Lloyd, said: “The Brazilian coastal transport sector is constantly growing and handled over 1.2 million TEU in 2022. Norcoast will offer integrated logistics as well as quick and efficient solutions for its customers – thereby taking advantage of the increasing demand in Brazil’s coastal shipping market.”
Angelo Baroncini, chief executive of Norsul, explained that “The creation of Norcoast is an important milestone while it combines the expertise of Hapag-Lloyd and Norsul. Norcoast will promote access, additional capacity, and inclusion of companies in the use of coastal navigation as a transportation mode whilst being present in the largest ports in Brazil.”
The company has already been incorporated and the partnership between Hapag-Lloyd and Norsul was approved by the administrative council for economic defense (CADE), Brazil’s national competition regulator.
The request to operate as Brazilian shipping company (EBN) was also approved by the board of directors of the Agência Nacional de Transportes Aquaviários (ANTAQ).
