Germany’s Hapag-Lloyd and the Brazilian shipping and waterway logistics firm Norsul have established a new joint venture to start offering container cabotage and feeder services in Brazilian ports in Q1 2024.
The jv called Norcoast will be an independent company and based on a 50-50 partnership between the world’s fifth largest carrier with a fleet of nearly 260 ships and one of the largest cabotage companies in Brazil based in Rio de Janeiro. Established in 1963, Norsul has 21 of its own vessels for coastal and long-distance shipping and operates with support bases in the states of Espírito Santo e Santa Catarina.
The company has already been incorporated and the partnership approved by Brazil’s national competition regulator and its operations approved by the Agência Nacional de Transportes Aquaviários (ANTAQ).
“The Brazilian coastal transport sector is constantly growing and handled over 1.2m 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,” said Andrés Kulka, senior managing director for the Latin America region at Hapag-Lloyd.
“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,” added Angelo Baroncini, CEO of Norsul.
Norcoast will be headed by Gustavo Paschoa, who brings with him industry expertise in the Brazilian transport and logistics sector, including previous senior management positions at Norsul, Damco, DSV and Penske Logistics.