Good day, everyone. Welcome to Log-In LogÃÂstica Intermodal Conference Call to discuss second quarter 2024 Results. My name is Sandra Calcado. I'm Log-In LogÃÂstica Investor Relations strategy and ESG Manager, and I will be your hosts during this event. The presentation and comments about the results will be made by Log-In's CEO, Marcio Arany; Pascoal Gomes, Finance and Investor Relations Vice President; Marcus Voloch, Coastal Shipping Vice President; Gustavo Paixao, Terminals Officer; and Mauricio de Alvarenga, Road Cargo Transportation Officer. They will comment on the company's performance and main highlights of the quarter and the first half. Then they will be available to answer questions that you might have.
The slides presentation and earnings release in both Portuguese and English are available in the results center of the company's IR website. Here, we will be showing the presentation in Portugal on Zoom, in addition to the rooms available in Portuguese and English. We also provide Brazilian sign linkage interpreting during the whole event. I'd like to remind you that all participants will be on listen-only mode during the company's presentation. Later, there will be a question-and-answer session when further instructions to participate will be provided. Be advised that this revenue is being recorded and will be available on the company's website.
Before proceeding, as usual, we would like to clarify that forward-looking statements that might be made during this conference call relative to Log-In's business perspectives, projections and operating and financial goals are based on the beliefs and assumptions of Logan's management and on information currently available to the company. Forward-looking statements are not a guarantee of performance. They involve risks, uncertainties and assumptions as they depend on circumstances that may or may not occur. Investors should understand that general economic conditions, industry conditions and other operating factors could also affect the future results of Log-In and could cause results to differ materially from those expressed in such forward-looking statements. Now the legal disclaimers made, I'd like to turn the floor to Marcio Adani, Log-In's CEO, to start his initial remarks.
Thank you, Sandra. Good morning to all. Marcio Arany, the company's CEO. I would like to thank you all for attending Log-In LogÃÂstica Intermodal Second Quarter 2020 Earnings Video conference call. We'll start our presentation on Slide 3 by reviewing the main achievements of our strategic plan in 4 blocks, coastal shipping, TVV, cargo transportation and ESG capital structure, which granites all the company's business units. Next, we will present our results. In our coastal shipping business, we highlight historical record in coastal shipping revenue was BRL 423.4 million, historical record also in Cabotage volume with 56,800 TEUs. All-time high record in feeder, revenue, BRL 129.4 million. Also, historical record of integrated solutions NOR, BRL 16.5 million in the arrival of a new vessel. We highlight historical revenue record, BRL 97.5 million, historical record of container volume handled 62,400 boxes in Q2. We also highlight the highest EBITDA for the second quarter at BRL 44.7 million.
We also hanged third place in the innovation and technology awards promoted by the National Federation of Point Operators and entered the final phase of retrofitting our ship-to-shore container, or ship-to-shore cranes. With regard to road cargo transportation, we highlight the level of 16 new trucks for the fleet extension project and continued synergy gains between Tecmar and Log-In with 1,350 TEUs handled in our road cabotage. The fourth and final point relates to our ESG agenda capital structure. Here, we highlight the compliance at Sea project, the inclusive attitude week at Log-In and our humanized digital transformation journey project which ranked among the 7 best in the digital Brazil awards. Well, now, our team will present the quarterly results, starting with our finance and Investor Relations VP, Pascoal Gomes.
Thank you, Marcio. Good day, everyone. Well, I'd like to show with you Log-In's results, consolidated results. And as Marcio mentioned, but we had a lot of good things, a lot of things for us to be proud of at Log-In, particularly regarding the expansion of our operations. We can see this very robust increase in net operating revenue of BRL 684.1 million, up more than 23%. And all of our business units posted a performance, which contributed to this growth. Starting with coastal shipping, Cabotage revenue grew by 17% compared to Q2 '23, with an increase in volume that was very strong and will be detailed by Voloch in a minute. Also, an increase in market share, and we increased our operating capacity, mainly in the North region, mainly due to the Amazonas Express Service, and we have more vessels in operation. Some of them and the new ones, which are still ramping up in terms of capacity. Feeder services posted a record revenue of almost BRL 130 million in the quarter, mainly due to a new service, which we officially opened recently, the Navegantes shuttle service, and also increased demand from international shape owners.
The market abroad is very aggressive, and this has a positive reflection on our feeder trade here in Brazil. We also had more cargo handled to and from Vitória, and this also drove the feeder results. TVV, Marcio Mentor achieved record revenue more than BRL 97 million with the highest volume of containers handled in any single quarter. The road cargo transportation business unit also recorded a 6% increase in revenue, totaling almost BRL 147 million here. Revenue benefited mainly from the container transportation operation in a verticalization project between login and Tecmar, and a partly recovery of average freight prices. Integrated Solutions also posted revenue growth by 13.4% and totaled BRL 16.5 million this quarter. In terms of the EBITDA results, were not as strong as the NOR results, and we'll detail all this when each one of the officers in charge of the different business units speak.
But consolidated adjusted EBITDA grew by 4.6% in relation to the comparative period at almost BRL 150 million. And this is the company's best result for the second quarter. Here, I think that the main contributor was the Vila Velha Terminal (TVV), which posted a fantastic result this quarter. The NOR, which I just mentioned, there is as from a record volume of containers handled more than 62,000 boxes handled. Adjusted EBITDA margin at TVV was maintained despite a reduction in revenue from ancillary services and despite an increase in operating costs, particularly with the addition of the new shift in order to maintain our level of service to the terminal's customers. And coastal shipping tested fit remained stable year-on-year. 7.3 percentage point reduction in the EBITDA, will explain this.
This is due to an increase in the cost structure couple additional vessels. We increased capacity of our % compared to Q2 '23. Market revenue, it's negatively impacted by the economic rent in Argentina. It already shows an improved trend for the coming quarters. And with the old, which owns a lower contribution margin when compared to capital for the trade increased its share in the results. Road cargo transportation posted adjusted EBITDA that was down 10% year-on-year. As I mentioned, we have enough front cost vitalization project to supply container services for Log-In. So, we have the cost and we haven't got the corresponding revenues yet. We still ramping up. And also, we had nonrecurring costs from the rains in the Southern region, a lot of rain impacting particularly the state. So consolidated adjusted EBITDA was positively impacted by the TVV result. The drop in margin is justified by the increase in the cost structure of coastal shipping, and also a challenging scenario of port congestion.
Marcus Voloch will also speak a little about that. This retraction in EBITDA margin in Q2 was smaller compared to Q1 2024. And this is due to a greater dilution of fixed costs. particularly in the coastal shipping business with the addition of 2 new vessels in operation, which, like I said, are still ramping up. TVV due to the modernization process. What's a process that began almost 3 years ago, and we are starting out the third phase of the process -- of the project. And this reduces the capacity of the terminal. We also had an increase in the cost structure with one extra shift with an impact on the personnel line item. In the type, we're seeing the same effect. In other words, fleet expansion with an upfront cost to start running the operation, especially to serve Log-In as a supplier, but with the revenue still -- the corresponding revenue still ramping up. We'll now hand over to Marcus Voloch, Vice President, who will give us more detail about this business unit. Marcus.
Thank you, Pascoal. Good morning, everyone. This is Marcus Voloch speaking, Coastal shipping VP. As Pascoal pointed out, we had a good second quarter with records in volume, NOI and market share. Now I'll start on Slide 5 by highlighting our 102% growth in total volume handled, reaching the historic mark of 25,000 TEUs in the single quarter with significant growth in the Cabotage and feed trades. In the second quarter, according to data from the Brazilian Association of Cabotage Shipowners ABAC, which represents about 93% of the cargo transported. The volume of containers handled by cabotage it was remain stable. -- compared to Q2 last year on Log-In recorded growth of 22%, strong growth. So, the market remained reasonably flat, and we grew 22%. This progress underscores the success of our strategy to increase capacity, particularly on the northern routes with the opening of the Amazonas Express service in mid-2023 and the new ships that joined our fleet. It is also interesting to note a significant 30% increase in our road operations year-on-year, demonstrating greater penetration of aggregated services in our cargo mix.
In other words, our volume grew 22%. But the volume of cargo transported on land increased 30%. So, we are bringing more aggregated services to our customers. In the feeder trade, the increase continued to exceed our expectations, all of our expectations, even our best forecast with more than triple the volume handled in 2023 to be exact, 202.3% growth -- 212.3% growth. This fantastic figure is the result of a carefully designed capacity growth strategy, which was carefully designed, accommodating in the delivery of our 2 new vessels at the time when there was a lot of pent-up demand. The expansion of the long-haul markets with a strong increase in Brazilian imports and a very high occupancy rate at the country's main port terminals, is bringing more opportunities for feeder cargo. We continue to monitor this market closely, looking for more opportunities to maximize and monetize our assets since feeder cargo complements Cabotage cargo, and it improves the utilization of the vessels on specific structures.
It should be mentioned that also in this quarter, a part of this growth is due to the increased the synergies achieved with MSC, Log-In's main shareholder and with a strong presence in Brazilian foreign trade. The Mercosur trade, we continue to see a contraction in the market, albeit much more moderate than in previous quarters. The market contracted only 4.1% in volumes handled year-on-year. But it's the first time since the beginning of 2023, when we see growth in volume. Volume grew 22%. So, it is possible that the first quarter 2024 would be the bottom -- would be the worst moment of the trade. So, we expect growth looking forward. We reinforced our commercial strategy of bringing new transportation alternatives to the market, migrating from road to multimodal international transportation, extended cabotage services.
Moving on to net revenue of coastal shipping. This grew by 31.5% over Q2 '23. It is important to mention that the average ticket in of decreasing on account of feeders, lower revenue per TEU and the increased share of feeder in Log-In's revenue matrix. So, the total revenue increase is not proportional to the increase in volume. Adjusted EBITDA for costal shipping totaled BRL 103.7 million, up 1.5% year-on-year, however, with a 7.3 percentage point reduction in the EBITDA margin. As Pascoal explained, part of the drop in margin is due to the increase in ship costs since we have 2 more vessels than in the same period last year, so a higher cost base as well as higher bunker price, port duties and crude costs during the whole quarter. Another relevant point of pressure on margins is the increase in operating costs, mainly port handling. For example, with transshipment, a complicated situation at the ports. We had to cancel some ports and that increases the volume of transshipment. It also led to storage and link transportation increased costs as a result of the complicated situation in Brazil's main parts.
The situation also has an impact on bunker consumption as we need to speed up our vessels to mitigate the impact in terms of cargo delivery. Lastly, on expenses side, we had unplanned maintenance and repair costs at MSC BELMONTE with a direct impact on the quarter's result. BELMONTE was returned in July with the startup of log-in experience. We must emphasize that our expansion process relies on a more aggressive commercial stance with entry into market sectors with lower returns, which are important for achieving our long-term strategies. Next slide, the delivery of our youngest children, Log-In evolution in January and Log-In experience now in June marks the pinnacle of our fleet renewal plan, which began in 2019 with the arrival of Log-In Polaris followed by Log-In Insurance and Discovery in 2020 and '21, respectively. As a result, we entered the second half of 2024 with 9th Log-In's own ships in full operation and a substantially more robust position, both from the commercial and operating point of view. In addition, Tecmar's territorial coverage perfectly complements the service geography of our ship fleet, bringing a range of services under our management, which is unparalleled in the Brazilian market.
Log-In evolution is largely responsible for our feeder growth since we used the ship on a stretch where there was a great pent-up demand. Log-In experience in turn replaces the MSC BELMONTE, which was chartered in 2023 for the implementation of the Amazonas Express service, LOAV, LOEX, as we call them internally, have the same design. Adapting to the characteristics of Brazilian cabotage delivering substantial gains in capacity and energy efficiency in line with our ESG objectives. This slide, which I like so much illustrates the beauty of multimodal cabotage transportation with vessels acting. Has great arteries, linking the territory from north to south, complemented by land services in strategic areas of operation using each asset where they are most efficient, ships of medium- and long distances and land transportation at both ends in conjunction with our warehouses. I now hand over to Gustavo Paixao, who will present the results for terminals. Thank you.
Good morning. This is Gustavo Paixao speaking. Now, I'll be sharing with you TVV's results for the second quarter 2024. We'll start the presentation with the figures of handling for the second quarter '24, starting with our container volume. In the second quarter of the year, we had a notable increase in container handling, our primary business. When compared with the same period in 2023, we handled at TVV 62,400 containers, which gives us an all-time record for a quarter at the terminal, mainly due to the continued growth in coffee export handling, which grew 260% and the imports of electric vehicles on flat racks, as well as the strategy of meeting the high demand for containers mainly serving the Spirito Santo exporting market. This figure of 62,400 containers reflects a 58.8% growth year-on-year. Extending this view a little further to the end of the first half year, we grew by around 61% in the container handling line, having handled 18,600 containers.
Turning to general cargo. We have a slightly different scenario when we compare to Q2 '24 with Q2 '23. We handled 174,600 tonnes in this period, a volume 11.9% lower. This is due to a scenario of competition posed by new entrants for the main cargo handled at the public port of Vitória, which is bulk and also due to what was mentioned before, which is meeting the strong demand for container cargo at TVV. Although not mutually exclusive, the high level of container handling presents us with a challenge when it comes to other cargo operations, especially with the spot profile. And at a time when TVV is experiencing it, input growing pain as we are in the final phase of our modernization project, which gives us operational restrictions due to momentary loss of capacity. The results of general cargo in the first half of the year showed the same behaviors. We handled approximately 303,000 tons, 28.7% less than in the first half of '23. Also, due to the impact already explained.
Moving on now to our financial results, I would like to highlight the record high NOR for a single quarter, totaling BRL 97.6 million, up 21.5% over the same period last year. Scenario also seen in the first half of 202 forces compared to the first half of 2023, we grew by around 13%, posting a NOR of BRL 187.1 million. However, although these numbers are of a positive nature as this result is mainly based on revenues from container handling. The flip side of the coin is that we had a drop in our capacity to generate ancillary services due to the momentary loss of capacity that I mentioned earlier, a senior that was already expected, but which adds costs because of extra expenses we incur so that the terminal can continue to serve its customers and maintain its level of service. Our adjusted EBITDA also showed growth compared to the second quarter of 2023, positively impacted by container handling at TVV.
In the second quarter of 2024, adjusted EBITDA was BRL 44.7 million, up 21.4% over last year, which is a record for a second quarter at TVV. Looking at the year-to-date total for the first half of '24, we posted an adjusted EBITDA of BRL 85.5 million, up 9.2% over the first half of last year. Well, these are the results referring to the second quarter of 2024 results, highlighted by the high container throughput NOR and adjusted EBITDA in the period. And this, even with the restriction imposed by our modernization project, which although planned remains a major challenge for the terminal, especially at a time of high-demand and a complex part situation in Brazil. I'd like to take this opportunity to edit to you on the schedule of the modernization project. The last and most challenging stage of the project is the retrofit of our 3 ship-to-shore trains, which is proceeding as expected and is scheduled to end in the last month of the third quarter. This concludes the presentation of the terminal's results for Q2 '24. And now I hand over to Mauricio de Alvarenga, Officer in that of Tecmar plus Oliva Pinto transports and will leave to continue with the presentation of that business unit. Thank you.
Thank you, Gustavo. Well, hello. Good morning, everyone. This is Mauricio de Alvarenga, Tecmar's Chief Executive Officer. Well, our second quarter of 2024 was marked by the effective implementation of the new container transportation operations in Cabo de Cento, Augustin in the state of Pernambuco, and also in Italia in state of Santa Catarina. We also reinforced operation incentives. This is a new operation in Pernambuco and Santa Catarina. The new operation is still undergoing operational adjustments. And we see these operations as very promising because, as Voloch mentioned, Log-In is trying to offer in the market Ancillary operations to coastal shipping and Tecmar is going to be an extra arm to contribute with this offering to the market. The units will handle the volume of contingent transportation, for Log-In's cabotage and Tecmar's road cabotage, in other words, in partnership with Log-In. And we are also offering this capacity to the market for import and export customers in these regions.
On Slide 8, revenues improved, and they were up 6%, as Pascoal mentioned. Year-to-date, kind of the same order of magnitude. However, we also had some cost pressure. We have preoperational costs of the new business unit, but also for cross-hold cargo operations. Here, we also felt some cost pressure, which led our EBITDA to be slightly reduced. It's down 10% over the same period last year at BRL 14.9 million in Q2. In terms of EBITDA margin, EBITDA margin stood at 10.2%. It is worth pointing out that in this road market, benchmark companies work with margins between 12% and 15%, meaning that we have some work to do because we have some margin improvements to Brazil. A very positive highlight is the increase in parcel cargo being transported by what we call road cabotage. In these cases, we use log in coastal shipping to transport cargo over long distances with Tecmar, because Tecmar is a very extensive network. We have short distance and long-distance routes.
So, this fits well as a differentiated product in the market for long haul with Tecmar being responsible for the entire logistics operation from collection and consolidation at the origin terminals and then transfer to see transport and to pass all the distribution at the destination using smaller vehicles, what we call the last mile. This is a business model that we believe has a lot of potential to be developed with our current customer base of Tecmar and Log-In, but also with new customers, who will have an opportunity to drive the solution. This is a very ESG-focused solution. To give you an idea, reduction in CO2 emissions can be up to 80% compared to a purely road model. We have a lower rate of damage to goods. And the cargo is less exposed to fast. So, we do have a focus here on sustainability, but it is still a new solution on the market. Before the Log-In group acquired Tecmar this solution practically was nonexistent. We are now offering this product for parceled cargo. It's a cargo that requires more transit time. And the market is gradually embracing this new solution. This is a differential of our group.
Another topic -- another question I get frequently is how the flooding in Rio Grande do Sul impacted our operations. Frequently asked question. And what I can tell you is that from the standpoint of costal shipping, we practically had no significant impact. We didn't have any interruption at the ports now. Of course, some customers did feel problems related to stoppages at their own plans, but we didn't have a substantial impact in coastal shipping. Tecmar has 3 branches in the region, none of which were impacted directly by the floods because of their location. Yes, we did have some employees affected. And we work hard to mitigate their impact, particularly the suffering that our employees had. And we used our own logistic network, Tecmar's and Log-In's to help in whatever was possible. And Pascoal, later on, we'll be commenting on this. And at the moment, we can already see a resumption in volumes to and from the regions in Rio Grande do Sul. We know that some industries are still suffering, but most of them are resuming their normal volumes. -- this is what I had. Thank you very much for your attention. I'll hand over. So, Pascoal will continue the presentation as well.
Thank you, Mauricio. All right. So, moving on to Slide 9, we see our indebtedness here at the highlight was the liability management. We carried out an operations maturing in the short and medium-term. If you look at the bottom chart of the slide, it showed our amortization schedule, the last quarter, big concentration in 2024 until 2026. So, we refinanced some of the debts of the company extending and they are now under better conditions, also with a lower cost of debt. So, this helped our average cost of debt indicator. We are always consistently working. And I always stress that to improve our debt profile to replace less attractive debt with better and longer -- that and the market offered a very good window in the last quarter. So, we have BRL 420 million as we announced to the market a much better position. With regard to our level of leverage expressed here by the net debt over EBITDA ratio in the last 12 months, well, despite having a stable EBITDA quarter-on-quarter, there was a reduction in our cash position.
This was an expected reduction. Actually, we planned for that because we have a strategy of using our cash upfront to enable and accelerate the timing of expansion projects, which are important for the company. And in parallel, we got good funding for the projects. This was the case of a project that we've talked about, Tecmar's fleet expansion project. We bought many trucks and implements. We invested almost BRL 70 million. This is a debt that is still being structured. And also, we paid the last installment of our second new vessel as Marcus mentioned, with our own cash. This is a debt we took in the past. But the asset is free now. If we need to positively leverage the company. This indicator net debt-to-EBITDA ratio is still at a healthy level. We are well-positioned according to our debt covenants, and we still have room to pursue good projects and to have logins leverage at the best level possible.
Moving on to Slide 10 to try to summarize the ESG agenda of the company. We will talk about our ESG agenda. First, we highlight 4 fundamental tellers. Environment -- It's the environment, social, governance and innovation. We spoke about Log-In's experience. Very much focused on the Brazilian cabotage business. It is already bringing to the operation better, if you will, consumption and the reduction in pollutant emissions for cargo transported. In addition to offering greater operating safety. Another interesting topic is that we ranked seventh place among the best in the digital -- the Brazil Digital award with the case, humanized digital transformation training. In the environment front, the highlights -- we're at TVV. Social environmental activities at TVV. This also involves the social pillar because it involves a surrounding community. So, we had environmental game at TVV to commemorate well the environment day with the employees and third parties at the terminal. On the social front, we had many nice achievements in the quarter. The main one that deserves to be highlighted is the last one, the solidarity operation in Rio Grande do Sul. I think that this shows what we are all about how we react to crisis situations.
Log-In made many containers available to move cargo in addition to semitrailers. So, we used the assets of the company, we have about 1,100 kilos attentions to Rio Grande do Sul, and sometimes transported in Log-In's vessels. We supported port maritime authorities, airlines or water companies to have water. Rio Grande do Sul private schools' communications. I mean, it was a very nice operation. And as mentioned, we helped our own employees. We're facing difficulties. This was a project led by one of our managers, Luis Paco. And we have a lot of people in the Log-In group participating. Log-In, Tecmar, TVV, et cetera. We also had the female leaders meeting to develop female leaders. We had the Inclusive at Week which is also important in the social front. These are some of the highlights for the quarter. In governance, we continue to strengthen our compliance agenda. Last year, we did strong compliance work at Tecmar. This year, we extended this to the sea. Compliance at the sea project. So, we had our training teams visiting the vessels going on board to speak about compliance, ethics code, integrity, code of conduct. We saw blowing channel. So, we are advancing a lot or compliance agenda now with a greater focus. We have participated in the global human rights due diligence project of our controlling shareholders, with a focus on child labor. That overall. We hand the floor back to Matthew Arany, our CEO.
Thank you to Officers, Pascoal, Gustavo and Alvarenga. We now move on to the question-and-answer session. We're all here for you. Thank you.
All right. We will now begin the Q&A session. [Operator Instructions.]. We have one question here. This is an anonymous question. But looking at the future, what is the expectation for the result with the drought in Manaus?
Well, thank you for the question. I'll ask Marcus Voloch to speak about this.
Thank you, Marcio. Thank you, Sandra. This year, actually, I think I mentioned in the last earnings release. For this year, we prepared a lot more, with a lot more care than last year. And I think that the main difference compared to previous years, will be the building of the floating peers close to Itacoatiara, which is the less deep-water point before the critical points in terms of navigability. And using this peer, the trend is that the bottleneck of cargo to and from Manaus will be mitigated compared to last year when the market spent 6 weeks without being able to transport the cargo. And the whole volume was migrated to the barges, and the ports that were supporting the barges collapsed and the barges were not able to do everything needed. So, with the peers, the 2 main Manaus operators will have this problem mitigated. The trends at time of the barges to go from Itacoatiara to Manaus and back will be substantially shorter than go and return in a matter of 24 hours compared to Villa de Conde, which is rather takes more than a week.
So, the expectation is that the rupture will be mitigated. And with this, the consequence to the financial results of Log-In should be mitigated. We reasonably say that we are not going to face the same problems we have last year. Of course, this is Plan A. We have plan B, C and D if plan A fails, but we're super prepared so that the business, our business will not be interrupted. Thank you.
Thank you, Marcus. We have another question here from Bruno Pereira. You presented a significant growth of revenue and volume. Why is it that the EBITDA margin did not follow this growth.
I'll ask Voloch to answer the question.
Right. This is a good question. Well, some points here. The first is what I mentioned. Feeder volume has a much lower average ticket than cabotage cargo. Therefore, the contribution margin is lower. On the other hand, it is a super safe cargo, take-or-pay, which, like I said, gives us a safe margin in terms of handling. And this is a point explaining why the EBITDA didn't grow as much as the revenue. Another point still, as I mentioned, we had an interesting increase in the volume of multimodal operations, ligand operations linked to point to port transport. In other words, our door-to-door volume increased with this average ticket increases, but the average cost also increases. On the other hand, we have a much greater penetration in the logistics of our customers, delivering them a much more complete range of product. It's part of our strategy to be a more complete solution provider to our customers. But the main point is not really that. The main point is the average utilization of the main Brazilian port terminals. Basically, incentives. The utilized capacity of centers is close to 90%.
UNCTAD, an international organization set that up to 65% utilization rate, it is healthy after that we start having problems. And the utilization rate is close to 90%. So, we have a lot of transshipment, council calls, transshipment incentives is pushed to other ports. So, we had some cancellations at Suape. And with this, we are spending more money with storage because the cargo has to sit there for longer. And with transshipment, if we cancel a port, we have to put the car in another vessel to take the cargo to its final destination. So, there was a problem caused by port congestion. Now, we are working with a number of internal measures. These are not very short-term measures. These are things that will be implemented slowly, little by little. But we are reviewing our rotation of vessels. We have a complete fleet now with the new ships. We are looking at the adequate constellation of parts considering the several coastal shipping lines we have to bring more balance and more buffer. A buffer is theoretically the idle time of the vessel to recover lost time and to be more productive. So, these are measures that will be put into operation in the next weeks.
We intend to mitigate the port congestion issue. I think that going forward, at least for 2024 until December, we don't expect the port situation to improve. This is a topic that is addressed with the main players of the segment and with the authorities because we need more investment. The port terminal at centers needs to be a player here, and we have to increase the capacity at other parts in Brazil. But this is not something that happens in the short-term. So, for the rest of the year, we still expect a complicated situation. But like I said, we are taking internal measures to mitigate this impact. I think this is it. Sandra, back to you.
Thank you, Marcus. [Operator Instructions]. Let me see if there are any questions. We have an anonymous question. Perhaps if you could state who you are, it would be easier for us. The new investment for the acquisition of new trucks. Will these new trucks be geared in our new operations in cabotage, and is the expectation one of growth for these parts?
Thank you for the question. I'll refer this question to Mauricio Alvarenga.
Thank you, Martin, and whoever asked the question. The fleet will bring an increase in capacity to an operation that we started last year to transport and to handle containers. The big investment is for this line. Not just in one single region, we distribute this capacity along 4 important ports where Log-In works as a group. And one of them, we reinforced the capacity at Manaus, which is an important part, where we now have increased capacity of the vessels. We strengthened the capacity at centers, which is also a very important part for us in terms of volume, and we created 2 new operations, which is what I mentioned that we didn't have as Tecmar in Cabo de Sante Agostino and in Itajai, Navegantes in the state of Santa Catarina. So yes, the new fleet will go to these activities where we have a great focus as Log-In group.
And Tecmar, we are transforming Tecmar, think I spoke about this in the previous call. We are turning Tecmar into a company which is a logistics operator, not just a road carrier. We integrate the warehouses that Tecmar already has, 25 warehouses, on or warehouses that we operate in addition to warehouses that we operate with partners. Integrating them to the coastal shipping network through a fleet, providing multimodal transportation option. This is what the fleet will be used for. So, it will help with Log-In's coastal shipping. We offer this in the market to other customers and for Tecmar's own operation of parceled cargo, which is also being shipped through cabotage. So, this is the complete context. Sandra, back to you.
Thank you, Mauricio. As there are no more questions. On behalf of Log-In, I'd like to thank you all for participating. I'll turn the floor back to Marcio Arany for his final statements.
Thank you, Sandra. I think that we ended the second quarter of 2024 with very good results across all our business units. All our business units provided the expected results -- delivered the expected results, positive results. We are still in the ramp-up phase of our new service to Manaus, where we increased the capacity. So, we still see a great opportunity to grow that route, but the route is consolidated. It's a super important alternative for our customers in the North and Northeastern regions. The arrival of Log-In Experience is another important landmark milestone, reinforces our presence along the Brazilian coast. It is a very important milestone in our expansion agenda. We continue to Tecmar's turnaround led by Alvarenga. The road transportation market has shown to be much more complex than we imagined. Very challenging, but the team is learning fast, putting a lot of things into practice and expanding some areas, which is the case of containers. And at TVV, we have faced a number of extra challenges with Gustavo's team, which is the final phase of the retrofit of the ship-to-shore cranes, at the same time being able to deliver volumes much superior to prior years with a lot of dedication of the team and very good results. Lastly, I can only thank you for your attention during this conference call. Thank you very much, and have a good afternoon.
Thank you, Marcio. The conference call of Log-In LogÃÂstica Integrad to review second quarter 2024 earnings has ended. You may disconnect, and have a good day.
[Statements in English on this transcript were spoken by an interpreter present on the live call.]
