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Brazil Port Terminal Auctions Delayed
Government officials in Brazil are behind schedule with plans to renew expired leases for the operation of some 53 public terminals at approximately 20 ports nationwide.
A Brazilian newspaper, Valor, reported this week that government officials have admitted privately that they won’t be able to meet their deadline for the re-auctioning port terminal contracts.
Last December, Brazil President Dilma Rousseff announced a port reform act, known as MP 595, to modernize and reorganize the country’s ports. MP 595 calls for contracts leased before 1993 to be re-auctioned rather than extended as they have in the past. Officials are seeking to augment competition among terminals through new ownership.
The measure allows only 180 days to complete the auctions, or until the beginning of June. The auction cannot be held until an economic feasibility study is completed Congress passes MP595 into law.
Congress has yet to approve the measure, and no study has begun.
The first auctions are scheduled to take place for the seven terminals at the Port of Santos, followed by the three public terminals at the Port of Belem.
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