TBS International's Brazilian Joint Venture

Wednesday, July 14, 2010

TBS International plc (NASDAQ: TBSI) announced its joint venture, Log.Star Navegacao S.A., obtained an operational license in Brazil to provide domestic shipping services. Lof.Star is a Brazilian flag shipping company that will concentrate on the movement of breakbulk, bulk parcels, heavy lift, general and project cargoes along Brazil's coastline and Amazon River basin. TBS owns 70% of the joint venture with the remaining 30% owned by Log-In Logistica Intermodal S/A (BOVESPA: LOGN3), a publicly-traded Brazilian logistics company with major shareholders including Vale and Petros (pension fund of Petrobras). TBS expects to use its international breakbulk shipping expertise to meet the growing demand of a Brazilian coastal and Amazon River domestic transportation service.

Joseph E. Royce, Chairman, Chief Executive Officer and President, commented, "We are very pleased to capitalize on our 15 year presence in Brazil and enter into a new market segment, building on our domestic market knowledge, our international breakbulk shipping expertise and our long standing customer relationships. Brazil's coastal trade accommodates an increasing volume of cargo, and the Brazilian economy has strong long-term fundamentals. We are pleased to have partnered with such well known and respected industry participants. We believe this new joint venture will position us to further increase our presence in Brazil, strengthen our operational base and provide additional future growth."

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

ClassNK Holds LNG Fuel Technologies Seminars

ClassNk held LNG-Fuelled Vessel Technologies seminars in Shanghai and Singapore on 22 July and 24, July 2014, respectively. With the industry looking to adopt

USCG Change of Command in Galveston

A Coast Guard lieutenant commander and graduate of Hastings High School in Houston, took command of Maritime Safety and Security Team Galveston during a ceremony in Galveston Thursday.

Miller Rejoins TITAN as Salvage Master

Captain Stuart Miller has rejoined Crowley Maritime Corporation’s TITAN Salvage operations team as salvage master, bringing with him over 30 years of worldwide,

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1505 sec (7 req/sec)