A vibrant Brazilian economy and rapid rise in imports contributed to the strong H1 10 trading performance at the Brazilian coastal shipping company Log-In.
Net operating revenue at the group increased by 54% to BRL184.3(USD104.8) million, with its earnings before interest, tax, depreciation and amortisation jumping 290% to BRL17.2(USD9.8) million.
In terms of carrying’s Log-In reported volumes of 75,822TEU in H1 10, 47.6% ahead of the 51,367TEU shipped in the same period of 2009.
The carrier’s container feeder business posted the biggest increase with liftings up from 7,421 TEU last year to 16,977 (129%) in H1 10.
This resulted in a operating revenue from this sector of BRL10.8(USD6.1) million, up 89.5% on the corresponding period of 2009.
Elsewhere, Log-In’s domestic cabotage traffic rose by a more modest 16.8%, climbing from 26,984TEU in H1 09 to 31,519TEU in the first half of this year. Meanwhile cargo shipped by the company to/from the Mercosur region (Brazil, Uruguay and Argentina) increased by 61% to 27,326.
Vital Jorge Lopes, the new ceo for Log-In said that the majority of the cabotage carryings were northbound and that the Rio de Janeiro-based company had increased its share in this market.
He said: The major portion of that cabotage volume was northbound, with cargo transported from Brazil’s South and Southeast regions to the ports in its North and Northeast Regions.
Currently, Log-In operates two services between the River Plate (including the upriver port of Zarate) and Manaus. It also runs a train service and a marine terminal in Vitoria.
Source: Containerisation International