China Merchants buys VLCC terminal in Brazil

CHINA Merchants Port, the port division of the state-owned conglomerate China Merchants Group, has acquired 70 % of Vast Infraestrutura, a company operating a crude oil transhipment terminal in the port of Acu, in Rio de Janeiro, Brazil.

China Merchants Port said the acquisition of Vast would allow the group to continue its expansion in the Latin American region and further consolidate its position globally.