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· Nacala Logistics, which manages the Mozambican port of Nacala, suffered a net loss of US$23 million in the second quarter
· The company said that the drop in sales was due to the reduction in the volume of coal and general cargo transport during the recent months due to the pandemic
· During the second quarter, coal transport stood at 1.2 million tonnes, a decline of 48% compared to the year ago period
Nacala Logistics, which manages the Mozambican port of Nacala, suffered a net loss of US$23 million in the second quarter. The company said that the drop in sales was due to the reduction in the volume of coal and general cargo transport during the recent months due to the pandemic. During the second quarter, coal transport stood at 1.2 million tonnes, a decline of 48% compared to the year ago period.
However, Nacala Logistics is getting adjusted to the new reality. It is trying to take challenging times as an opportunity by adopting measures to ensure healthcare protection to port employees and people living near the port area.
Nacala Logistics operates in the ‘Nacala Corridor’ and also manages the railway line. With the outbreak of pandemic, the number of passengers were reduced to one -third of the number of passengers as compared to the number of passengers, it hauled the same period last year. It has also li8mited the number of trains plying as a precaution against the spread of Covid-19.
The Nacala corridor is a joint venture between the Brazilian multinational Vale, the Japanese conglomerate Mitsui and the Mozambican public company Portos e Caminhos de Ferro of Mozambique (CFM). It has been in operation since 2016. US$4.5 billion (€3.8 billion) investment has already been made in the project. .
The railway line is 912-kilometre in length. It has a stretch of over 200 kms passing through Malawi. The deep-water port terminal is used for haulage of coal mined from Moatize district, Tete province, central Mozambique.
