Strategic Alliances Recent alliance with Hapag-Lloyd to form a new operator in Brazilian cabotage signals potential for co-managed capacity and joint service offerings. This creates opportunities to pitch integrated domestic transport solutions to large exporters and manufacturers seeking seamless cargo movement across Brazil.

Sustainability Edge Partnership with Biofilica enables carbon-neutral operations across Norsul's fleet. This green credential can be monetized through carbon credits and marketed to ESG-focused clients, creating a differentiator in a competitive cabotage landscape.

Domestic Network Norsul operates across key Brazilian ports with bases in Rio de Janeiro, Espírito Santo and Santa Catarina, enabling end-to-end coverage for dry and liquid bulk, neo-bulk, general cargo, and project cargo in cabotage and long-haul routes.

Target Customers Positioning toward large agribusiness, commodity traders and manufacturers that rely on domestic freight and storage, such as grain traders and bulk producers. Opportunities exist to cross-sell end-to-end logistics, warehousing, and port-handling services alongside shipping.

Tech Modernization Opportunity to expand digital capabilities with a modern TMS, real-time fleet tracking, ERP integrations, and sustainability reporting to attract digital-first clients and improve cross-customer coordination.