MP595 sets Santos Brasil free
Before the approval of Brazils port reform bill MP595, national operator Santos Brasil admits that it felt uncomfortable investing in areas outside of public ports as the previous legislation did not entirely allow for the handling of third party traffic.
But those concerns can now be laid to rest, the company’s Marcelo Garcia D’Antona tells Port Strategy.
“In the near future, MP595 will allow us to broaden our investment horizons. In areas where there is a strong market, we may consider going into greenfield projects that will create strong value for our shareholders,” he says.
He also believes that the new act will promote more competition, since shipping lines and shippers are bound to support the most efficient terminals.
“Our company is in a strong position to lead this competition. Our productivity is the highest in the country, with around 80 moves-per-hour. We also own a logistics and general cargo firm, Santos Brasil Logística, which operates in an integrated manner with our terminals, providing customer service at every step of the logistics chain. In addition, we have a very low debt structure and we can rapidly obtain new equity and more funding for new projects, so no good opportunities for investing will pass us by.”
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