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Nacala Logistics Reports Losses

Nacala Logistics Reports Losses

Nacala Logistics closed the year 2020 with a loss of 31 million dollars, in the net result. The financial result was overly affected by the reduction in revenue resulting from the low volume of transport and handling of coal and general cargo, in the Nacala Corridor.

The production and financial report for the fourth quarter of 2020 indicates that general cargo transportation reduced by about 40%, while coal transportation and shipment had a decrease of about 20%, year-over-year.

In the same period, Nacala Logistics recorded an operating income of $84 million, down 27%, year-over-year in 2019.

According to the Corridor’s CFO, Fabio Iwanaga, the performance of the coal logistics and general cargo businesses were affected by the downturn in demand caused by the pandemic. For 2021, a gradual recovery of the sector is expected, in line with the recovery of the world economy.

Despite an unfavorable economic context, Nacala Logistics continues to invest in modernization, such as the introduction of the express container transport service.

This service has a great impact on security and cost reduction and allows the cargo to be located, in real time, thanks to the cargo tracking system.

It should be remembered that Nacala Logistics is the brand that represents the companies in the Nacala Corridor, namely Corredor do Desenvolvimento do Norte (CDN), Corredor Logístico Integrado de Nacala (CLN), Central EAST African Railways (CEAR), Companhia Logistica de África (CLA) and Vale Logistics Limited (VLL).

Nacala Logistics is responsible for managing and operating the rail-port system of over 900 kilometers, connecting the Moatize Coal Mine, the Nacala-à-Velha Multipurpose Port Terminal, and Malawi.

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