Hapag-Lloyd and Norsul to launch new joint venture company for cabotage business in Brazil
Hapag-Lloyd and the Brazilian shipping and waterway logistics company Norsul have set up a new joint venture called “Norcoast”. Based on a 50-50 partnership, Norcoast envisages to start offering container cabotage and feeder services in Brazilian ports in Q1 2024. Norcoast will be an independent company in the sector, leveraging the strength of both parent companies, according to the company's release.
The new joint venture will be headed by Gustavo Paschoa, CEO 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.
Norcoast has already been incorporated and the partnership between Hapag-Lloyd and Norsul was also 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) – thereby paving the way to enter the market and increasing choices for Brazilian customers.
With a fleet of 258 modern container ships and a total transport capacity of 1.9 million TEU, Hapag-Lloyd is one of the world’s leading liner shipping companies. The company has around 14,000 employees and 400 offices in 135 countries. Hapag-Lloyd has a container capacity of 2.9 million TEU – including one of the largest and most modern fleets of reefer containers. A total of 115 liner services worldwide ensure fast and reliable connections between more than 600 ports on all the continents. Hapag-Lloyd is one of the leading operators in the Transatlantic, Middle East, Latin America and Intra-America trades.
With 60 years of experience in cabotage, Norsul has been protagonist in the growth of Brazilian shipping and logistics integration. In 2022 it transported 28 million tons of solid bulk (such as cement, minerals, steel products and commodities) and liquid bulk (hydrocarbons, derivatives and biofuels), with revenue of R$ 2.2 billion in the period. The company headquartered in Rio de Janeiro, 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.
