 |
| Santos Brasil |
Strong Q4 performance driven by long-haul trade, new services, and cabotage growth
Santos Brasil, one of Brazil’s largest logistics and port operators, recorded a 17% year-on-year increase in Q4 2024 container handling, moving 391,190 containers, compared to 335,130 in Q4 2023. The boost came from robust long-haul trade, especially exports of cotton, sugar, coffee, and cellulose, as well as increased cabotage services.
Tecon Santos Leads Volume Gains
The Tecon Santos terminal handled 343,515 containers, up 19% year-on-year, supported by:
- A 35% increase in exports
- A 17% rise in imports
- Strong demand for vehicle parts and chemical products
- 12.5% growth in cabotage, aided by a new shipping service
Tecon Imbituba Grows 40%
In southern Brazil, Tecon Imbituba handled 22,370 containers, up 40%. A new long-haul service, launched after CMA CGM acquired a 47.55% stake in the terminal, pushed long-haul volumes up 60%. Cabotage also surged 27% due to new domestic routes.
Tecon Vila do Conde Contracts Amid Drought
In contrast, Tecon Vila do Conde, located in northern Brazil, saw a 19% decline in volumes due to drought-related shipping delays. Still, cabotage rose 1.9%, showing some resilience in coastal trade.
Full-Year Results Reflect Strong Momentum
For all of 2024, Santos Brasil moved 1.5 million containers, up 23% from 2023:
- Tecon Santos: 1.3 million containers (+24%)
- Tecon Imbituba: 80,835 containers (+53%)
- Tecon Vila do Conde: 94,970 containers (–4.8%)
Annual profit soared 47% to R742 million, while revenue rose 36% to R2.9 billion. Despite a Q4 profit dip of 8.3%, quarterly revenue climbed 18.5% to R790.7 million.
Santos Brasil’s performance highlights its growing strength in international logistics and domestic cabotage, with strategic expansions and partnerships fueling future potential.
Tags
ISSUE
