APM Terminals and the Municipality of Itajaí, Brazil, have signed a Transitory Lease Agreement for the Port of Itajaí.
The agreement was signed on 9 December.
By doing this, the company will continue on as the port’s lessee in 2023.
The contract with APM was to expire on 31 December but will now be renewed for up to two years.
Negotiations between the port authority and APM Terminals were reopened on 11 November when Superintendence of the Port (SPI) decided to cancel a bidding process, previously won by CTIL Logística.
Local business leaders were concerned that a bidding process could lead to a stoppage of service, and recommended and extension with APM Terminals were able to come up with alternative payment agreements to avert the closure of the port.