The long-term agreement calls for the ocean carrier to add seven services with 10 weekly calls to Brazil’s largest port over the next two years.
The automotive sector is driving the unseasonably strong volumes as manufacturers expedite shipments from Europe to the US to avoid new duties coming in April.
Running loops with fewer ships will not be the current priority for an oversupplied industry, but new entrants may be more inclined to look at a lean, efficient product that has a competitive service edge in the key hubs it serves, writes Jeremy Masters.