MSC takes full ownership of Brazilian reefer port

MSC takes full ownership of Brazilian reefer port

A subsidiary of Swiss ocean carrier Mediterranean Shipping Co (MSC) has bought 50% more shares in the Brazilian reefer port of Portonave to assume total ownership of the facility.

Terminal Investment Ltd, the MSC subsidiary, bought the shares from Brazilian investment firm TPI Triunfo at a price of $393m.

Portonave is in the municipality of Navegantes in the southern Brazilian state of Santa Catarina and located at the mouth of the River Itajai.

It is the nation’s second-largest port and a vital gateway for food exports.

Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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