Marubeni places Terlogs port terminal for sale in SC, according to sources

The Japanese Marubeni put up for sale the Terlogs port terminal in San Francisco do Sul (SC), according to four sources familiar with the matter, aiming to pass on an asset that faced strong competition with rival ports in the South.

Marubeni in Japan did not immediately respond to a request for comments on the issue.

In February, Marubeni issued a statement expressing concern about the loss of competitiveness of the Terlogs terminal. The company asked authorities to modernize the state port so that it could remain competitive against ports such as Paranaguá and Rio Grande.

Marubeni made its first investment in Terlogs Terminal Marítimo in 2005, when it bought a 25% stake in the grain export terminal. Six years later, Marubeni bought the stakes of the other partners in the venture.

Source: Reuters

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