Gulftainer Mulls Brazil Divestment
Sharjah-based port operator Gulftainer is considering pulling out of Brazil where it operates a port on the country’s northeastern coast, Gulf News reported quoting chief executive Flemming Dalgaard.
The company will make a decision before the end of the year, Dalgaard said. Gulftainer, 50 per cent owned by conglomerate Crescent Enterprises, was awarded an operator certificate for Brazil’s Recife port in 2011.
Few months ago, Daalgard stated that the port was “not performing as would like it to” and that there had been no decision at the time on whether it should withdraw.
Daalgaard also said Wednesday that Gulftainer remains in discussions to operate two ports in the United States.
The terminal operator entered the US market in 2015 with a 35-year contract for Port Canaveral in Florida.
