Norsul consolidates leadership in bulk cabotage with acquisition of Hidrovias do Brasil operation

Norsul, one of Brazil’s largest cabotage companies, has completed the acquisition of the cabotage operations of Hidrovias do Brasil, an integrated logistics company providing port and coastal shipping services across South America. The deal covers the bauxite transport operation between Porto Trombetas and Barcarena, in Pará, consolidating Norsul among the country’s leading players in dry bulk transport.

With the transaction, Norsul incorporates two ore carriers, Tambaqui and Tucunaré — both Brazilian-built, flying the national flag, and crewed by Brazilians. The company will now fully operate the route supplying the Alunorte refinery, one of the world’s largest alumina producers, increasing its total transported dry bulk volume to 4 million tonnes per year.

The vessels were custom-designed for navigation in the Amazon Basin: 245 meters long, 40 meters wide, with a capacity of 82,000 tonnes per voyage and a maximum draft of only 12 meters, ensuring logistical efficiency and minimal environmental impact even in restricted stretches of the Amazon River.

“This acquisition reaffirms our 60 years of expertise in maritime transport and strengthens our commitment to developing Brazil’s waterway logistics as a strategic national asset. These are long-term, strategic assets that enhance our competitiveness and expand our presence in the North region,” said Rodrigo Cuesta, CFO and Director of New Business at Norsul. “More than acquiring vessels, we are integrating a solid operation, a major contract, and a highly skilled team.”

In 2024, Norsul transported over 7.5 million tonnes of bauxite, maintaining a record of efficiency and expertise on one of Brazil’s key shipping routes. The Alunorte contract runs until 2034, ensuring predictable long-term revenue and investment stability.

Cabotage as a logistics pillar

With the integration of this new operation, Norsul reinforces its position in the Brazilian cabotage market, which handled 110 million tonnes in 2024 across liquid, gaseous, and solid bulk, maintaining an annual growth rate of 2.4% (source: EPE).

“Cabotage is an essential driver of Brazil’s logistics development. By investing in fleet modernization and efficiency, we contribute to a more balanced transport matrix, reduced emissions, and greater productive integration across the country,” added Cuesta.

Over the past decade, Norsul has pursued diversification as its main expansion strategy, maintaining an average annual gross revenue growth of 19%. Focused on Brazil’s coastal shipping market, the company continues to identify new growth opportunities.

In 2023, Norsul entered a joint venture with Hapag-Lloyd to create Norcoast, focused on cabotage and feeder container services across Brazilian ports. In 2024, it acquired the Babitonga Bay handysize vessel (39,000 DWT) and launched ship-to-ship bunkering operations along Brazil’s coast. That year, Norsul transported 14.2 million tonnes in cabotage and reported R$ 1.4 billion in net revenue.

The acquisition of Hidrovias do Brasil’s operation marks another step in Norsul’s sustainable growth journey, strengthening its footprint in national maritime logistics with a long-term revenue outlook.

Sustainability as a strategic priority

Norsul continues to accelerate its decarbonization and innovation agenda, investing in IoT-based energy efficiency systems, propeller optimization (Propeller Boss Cap Fins), anti-fouling technologies in partnership with Bioren, and AI-driven fuel optimization.

The company has also implemented solar systems on moored barges, ballast water treatment, and the use of low-sulfur fuels. Since 2020, it has been a signatory to the Getting to Zero Coalition and operates an online atmospheric emissions monitoring system integrated with carbon intensity indicators (CII Rating). Norsul is also part of the Brazil Green Logistics Program and has earned the Gold Seal of the Brazilian GHG Protocol Program.

“We will continue investing in strategic operations, innovation, and operational excellence, maintaining our commitment to people and sustainability as the pillars of our business,” concluded Cuesta.

Source: Norsul

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