Norsul and Hapag-Lloyd Launch New Joint Venture for Container Cabotage in Brazil

Norsul and the German company Hapag-Lloyd have created a new joint venture called “Norcoast.” Based on a 50-50 partnership, Norcoast aims to offer container cabotage and feeder services at Brazilian ports in the first quarter of 2024. Norcoast will be an independent company in the sector, leveraging the strengths of both parent companies.

“The creation of Norcoast is an important milestone by combining the expertise of Norsul and Hapag-Lloyd. Norcoast will promote greater access and additional capacity for more companies to use container cabotage as a means of transport, while also being present in the largest ports in Brazil,” explains Angelo Baroncini, CEO of Norsul.

“The Brazilian coastal shipping sector is constantly growing and moved more than 1.2 million TEU in 2022. Norcoast will offer integrated logistics as well as fast and efficient solutions for its customers – thus taking advantage of the growing demand in the Brazilian cabotage market,” said Andrés Kulka, Managing Director Latin America at Hapag-Lloyd.

The new joint venture will be led by Gustavo Paschoa, President of Norcoast, who brings extensive experience in the Brazilian transport and logistics sector – including previous senior management positions at Norsul, Damco, DSV, and Penske Logistics.

Norcoast has already been established, and the partnership between Norsul and Hapag-Lloyd has also been approved by the Administrative Council for Economic Defense (CADE), Brazil’s national competition regulator. The application to operate as a Brazilian navigation company (EBN) has also been approved by the Board of the National Waterway Transportation Agency (ANTAQ) – paving the way for the market entry of new options for Brazilian customers.

About Norsul

Norsul, a Brazilian navigation and logistics integration company headquartered in Rio de Janeiro, has 60 years of experience in cabotage in Brazil. A leader in the growth of Brazilian navigation since its founding, in 2022 it transported 28 million tons of solid bulk (such as cement, minerals, steel products, and other commodities) and liquid bulk (hydrocarbons, derivatives, and biofuels), with revenue of R$ 2.2 billion during the period. The company has 21 owned vessels dedicated to cabotage and long-haul and operates support bases in the states of Rio de Janeiro, Espírito Santo, and Santa Catarina.

About Hapag-Lloyd

With a fleet of 258 container ships and a total transport capacity of 1.9 million TEU, Hapag-Lloyd is one of the world’s leading 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 refrigerated containers. A total of 115 regular services worldwide ensure fast and reliable connections to more than 600 ports on all continents. Hapag-Lloyd is one of the leading operators in the transatlantic, Middle East, Latin America, and Intra-America trades.