Rumo Logística Explained

Rumo Logística
Former Name:América Latina Logística
Type:Sociedade Anônima
Traded As:Ibovespa Component
Location:Curitiba, Brazil
Key People:João Alberto Fernandez de Abreu, (CEO)
Area Served:Brazil
Industry:Transport
Services:Intermodal freight transport
Revenue: US$ 1.7 billion (2018) [1]
Net Income:US$ 70.3 million (2018) [2]
Num Employees:8,500
Parent:Cosan
Subsid:Brado Logística

Rumo, formerly known as América Latina Logística (ALL), is a Brazilian logistic company, mainly focused in the railway line logistics in Brazil, being the largest company in Latin America in this segment.[3] [4] The company also provides transportation services such as logistics, intermodal transport, port operations, movement and storage of merchandise, administration of storage facilities and general storage.

It is also involved in leasing railroad equipment to third parties, and offers road transport services in Brazil through "América Latina Logística Intermodal S.A."

History

Predecessor company América Latina Logística was founded as "Ferrovia Sul Atlântico" in 1997 and is headquartered in Curitiba, Paraná state. Pursuant to a privatization process it began operating lines in Paraná, Santa Catarina, and Rio Grande do Sul. It began operations in São Paulo state in 1998, and later (2001) acquired Delara Ltda, a Brazilian logistics company also operating in Argentina, Chile, and Uruguay. Operations were extended to Mato Grosso and Mato Grosso do Sul through acquisition in 2006. There are connections with the standard gauge rail networks in Paraguay and Uruguay and with the network in Brazil.

The company assumed its current name after acquisition of its Argentine railway interests in 1999.[5] There it partnered with Railroad Development Corporation and the Argentine government until June 2013 in the operation of two freight services:

On June 4, 2013, the Argentine government cancelled ALL's concessions due to contract violations by failing to invest and accumulating fines worth 30 percent of the concession.[7] [8] The head of Trenes Especiales Argentinos, which had operated passenger services on the General Urquiza Railway, has publicly supported the decision, claiming that ALL was responsible for the deterioration of the standard gauge network.[9]

ALL operated a subsidiary named "Brado Logistics" which handled intermodal freight.[10]

In 2014, ALL merged with Rumo (owned by Brazilian conglomerate Cosan) to form a company valued at R$11,000 million.[11]

On 6 May 2024, Rumo announced a partial interruption of its activities due to the heavy rains and flooding affecting Rio Grande do Sul, the country's southernmost state.[12]

See also

Notes and References

  1. http://app.exame.abril.com.br/negocios/empresas/noticias/lucro-da-all-cresce-591-em-2010 ALL 2010 revenues increase for R$ 2.7/ USD 1.7 Billion
  2. Web site: ALL 2010 net income jumps 591% for R$239.9/USD 151.8 Million. Portos e Navios. 2024-06-05. 2014-03-03. https://web.archive.org/web/20140303233135/http://www.portosenavios.com.br/site/noticiario/portos-e-logistica/8454-lucro-da-all-cresce-591-em-2010-e-chega-a-r-240-mi. dead.
  3. https://www.reuters.com/article/transporte-all-cosan-idLTAL2N0LJ0GD20140214
  4. https://www.reuters.com/article/transporte-all-cosan-idLTAL2N0LJ0GD20140214 Firmas de logística ALL y Rumo, cerca de acuerdo fusión: medio
  5. Web site: Ruth . Felder . 2000 . La Privatización de los ferrocarriles en Argentina: el nuevo rol del Estado. Biblioteca Digital de la Facultad de Ciencias Económicas - Universidad de Buenos Aires. Tesis Posgrado 001502/0059.
  6. http://www.apertura.com/negocios/El-Gobierno-rescinde-el-contrato-del-Tren-de-la-Costa-y-del-Parque-de-la-Costa-20130604-0004.html "El Gobierno rescinde el contrato del Tren de la Costa y del Parque de la Costa"
  7. Web site: Agencias . 2013-08-28 . El Gobierno exige $ 132 millones a empresas de trenes por multas impagas . 2024-06-05 . www.cronista.com . es.
  8. News: Argentina Seizes Railway From Brazil's ALL Over Contract Breach. Bloomberg.com . 2013-06-04.
  9. Web site: Desde TEA quieren volver con el tren y espera el llamado del Estado . 22 September 2015. 2024-06-05 . El Territorio Misiones . es.
  10. Ferrari . Gustavo . 4 February 2013 . Brado orders 600 more AmstedMaxion wagons . . 2013-06-03.
  11. Web site: Juan Manuel . Compte . 2018-07-16 . Rubens Ometto Silveira Mello, Presidente de COSAN - Dulce Señor . 2024-06-05 . es.
  12. News: Flooding in southern Brazil disrupts logistics network . 7 May 2024 . The Brazilian Report . 6 May 2024.