ICTSI takes over Container Terminal 1 in Rio de Janeiro

After obtaining the necessary approvals from the Brazilian regulatory authorities, the global port operator International Container Terminal Services Inc. (ICTSI) took control of Container Terminal 1 (T1) in Rio de Janeiro.

The port facilities were transferred to ICTSI on December 12. In July, ICTSI signed a contract with Boreal Empreendimentos e Participações SA for US$179.80m to acquire 100% of Libra Terminal Rio SA, which holds the concession rights to develop and manage T1.

Last year, the T1Rio performed at 135,000 TEUs. The port facility has a capacity of over 530,000 TEUs that can be further expanded.

The port has state-of-the-art equipment, including five STS gantry cranes and a wide range of other vehicles, including over 16 RTG gantry cranes.

The transaction will expand ICTSI’s presence in the Brazilian container terminal market and should generate returns for its shareholders. It is worth noting that Boreal is a Brazilian subsidiary wholly owned by the private group Libra, which is in the process of judicial recovery.

The following DataLiner chart shows container imports and exports from Libra Terminais Rio from January 2015 to October 2019:

Chart Source: DataLiner/Datamar

Source: Mundo Marítimo

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