MITSUI BUYS STAKE IN DOCENAVE’S CABOTAGE ARM
Mitsui Co. is acquiring a 21-percent stake in the Brazilian cabotage business of Docenave, and will join forces with the Brazilian company to develop intermodal cabotage services.
Companhia Vale do Rio Doce, the full name of Docenave, will keep the remaining 79 percent in the coastal shipping operation.
“As part of the agreement, Mitsui will bring its know-how in container management, one of the biggest operational expenses, and in the development of feeder services,” a spokesman for Docenave said.
