Libra in crisis negotiations with Codesp

CEO Sergio Kano, says: “The new container handling equipment will boost SCT’s crane capacity twofold. The fully erect delivery was an important consideration in the selection process. SCT is experiencing massive growth and every portion of our terminal is utilized for container operation with little space for erecting cranes.”

Santos multipurpose facility Libra Terminais is renegotiating its debt payments with the Port Authority (Codesp) as a means of fending off its current financial crisis. The terminal, which owes US$116.98m, still challenges the legality of the debt, claiming that leasing contracts can now be renegotiated after running for five years according to a new Brazilian law. The conflict between the terminal and Port authority revolves around the exact level of charges that Libra should have to pay to make use of a designated 87,000 square metre area and for the movement of containers within it.