Hapag-Lloyd enters Brazilian cabotage market with Norcoast JV
Hapag-Lloyd and Brazilian firm Norsul have formed 50:50 joint-venture company Norcoast to provide cabotage services ...
Modern Logistics, a freighter-operating Brazilian “integrated logistics” company, is looking for $200m in investments so it can expand. The company, which has four ageing 737 freighters, hired Evercore investment bank last year to find new investors to support its plan to buy more aircraft and build new distribution centres.
Based in São Paulo state, the company offers storage, air and land transport and distribution. It has a good pedigree: chief executive Gerald Lee (pictured) helped found Azul and was a vice president at JetBlue. He has also been an undercover detective.
Modern is currently backed by private equity firm DXA Investments, which has put in $50m. Modern claims to have some 100 customers, including Harley-Davidson and medical device maker Boston Scientic Corp.
More box ships diverting to Suez Canal routes as Panama restrictions tighten
Fleet-heavy ocean carriers also stuck with too many containers
A SAF future could be being built on an uncertain foundation
Maersk diverts two vessels from Middle East region over attack fears
Carriers try for more GRIs on Asia-Europe, eyeing Thanksgiving positives
Diageo goes green with appointment of sustainable freight innovator Zeus for new HVO trial
'Stay cautious' warning to carriers after suspected drone attack on box ship
Alex Lennane
email: [email protected]
mobile: +44 7879 334 389
During August 2023, please contact
Alex Whiteman
email: [email protected]
Alessandro Pasetti
email: [email protected]
mobile: +44 7402 255 512
Comment on this article