Report: China’s CMG Eyes Stake in Brazilian Container Port

3
364
  •  As SDU Opposes Ports of Sweden’s New Union Policy

Chinese state-owned corporation China Merchants Group (CMG) is looking to spread its footprint in Brazil as the company is reportedly in negotiations to buy Advent International Corp’s 50 percent stake in TCP Terminal de Contêineres de Paranaguá SA, local media informed.

Namely, the conglomerate is preparing to acquire the stake in Brazil’s second-busiest container port, which was put up for sale in 2016.

The negotiations with the Chinese group intensified after the Dubai-based DP World decided to back out of the race for the terminal stake.

Local media cited undisclosed sources close to the matter as saying that the value of the share in question stands at some USD 1 billion.

The negotiations are allegedly in the advanced phases as the parties are set to resolve final details on the matter and could soon sign a binding agreement on the sale.

In the meantime, employers’ organization Ports of Sweden (Sveriges Hamnar) has decided to adopt a new policy regarding dockworkers’ unions, the Swedish Dockworkers Union (SDU) informed.

Under the new policy, the SDU’s influence in all Swedish ports would be reduced to a legal minimum, the union claims.

In addition, the new policy reduces the unions’ role in negotiating working hours and work conditions, and prohibits representatives of the SDU to carry out activities of the union during working hours, the union adds.

Reacting to the announcement, the SDU said in a statement that the new policy is likely to have “dramatic consequences”.

The new policy follows the ongoing conflict between terminal operator APM Terminals and the SDU caused by a change in the company’s personnel policies.

Despite protests by stevedores, the terminal operator started layoffs and the implementation of new work patterns in early April.

Described as being aimed at increasing the terminal’s productivity, the measures are expected to result in cuts of 100 dockworker jobs before and during the summer.

World Maritime News