Terminal Cuenca del Plata (TCP) container terminal in the Port of Montevideo has been fined $935,000 by Uruguay’s National Ports Administration (ANP) because the terminal failed to handle an agreed minimum number of containers in the year from July 2016 to June 2017.
It was the second successive year that a fine has been imposed. In 2016 TCP was hit with a $358,000 penalty.
The drop-off in containers handled year-on-year up to June’s end was 15.6%.
TCP is jointly owned by ANP (with a minority 20% stake) and Belgian multinational Katoen Natie (with 80%).
Katoen Natie has put its share of TCP up for sale.