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Hapag-Lloyd: Formation of new company in Brazil

Souhangwang https://www.sofreight.com/school/souhang_information_article?id=66075 2023-10-27 18:41:48

Hapag-Lloyd: Formation of new company in Brazil


On October 19, Hapag-Lloyd announced the formation of a new joint venture-Norcoast with Brazilian shipping and waterway logistics company Norsul.
Based on the 50-50 partnership, Norcoast plans to start providing container cabotage and feeder services at Brazilian ports in the first quarter of 2024. Norcoast will operate independently in the region, leveraging the strengths of both parent companies.

Andres Kulka, Senior Managing Director Latin America at Hapag-Lloyd, said: “The Brazilian coastal shipping industry continues to grow, handling more than 1.2 million TEU in 2022. Norcoast will provide its customers with integrated logistics as well as fast and efficient solutions to take advantage of Growing demand in the Brazilian coastal shipping market.

There are approximately 30 ocean shipping service companies, 48 shipping support service companies and 77 port support service companies in Brazil. These companies are either owned by Brazilians or by foreigners registered in Brazil. The Ministry of Transport and the National Water Transport Agency antag) are the current regulatory agencies for Brazilian maritime services.

Brazil has 37 public ports. Port activities are carried out in accordance with Law No. 8630 of 1993. Ports can be managed by federal, state, municipal and private agencies, allowing ports to be open to foreign service providers. Companies that provide port ancillary services such as container services, transshipment, warehousing, customs clearance and ship repair must have a legal entity in Brazil,

Brazilian law does not have discriminatory provisions against foreign capital participation. Likewise, there are no discriminatory provisions in the acceptance of port services