Two months after issuance of a new regulation governing the port
sector (Medida Provisoria No. 595/2012 ? "MP No.
595/2012"), the Brazilian Secretariat for Ports
(Secretaria dos Portos ? SEP) announced the first port
terminals that will be put to bid.
These port terminals are located in the North, Northeast, South,
and Southeast of Brazil. Of the 159 port terminals announced by
SEP, leases for 85 have already expired, while 42 are being put to
bid for the first time.
Please click here to download the complete list of port
terminals announced by SEP.
According to Article 49 of MP No. 595/2012, all port terminal
lease agreements existing at the time the new rule was enacted
shall remain in force in accordance with their terms and shall be
(re)bid from the date which is 12 months prior to their respective
termination dates.
In the event the remaining lease term is less than 18 months or
the lease term has already expired, the (re)bid of the relevant
terminal area shall occur no later than June 7, 2013 (Article 49,
§1 of MP No. 595/2012).
However, it is possible that the Brazilian government will exceed
the deadline set forth in Article 49, §1, of MP No. 595/2012
given that, among other issues, the Federal Court of Audit
(Tribunal de Contas da União) may be previously
consulted and feasibility studies are required.
It is important to note that MP No. 595/2012 is still being
reviewed by Brazil?s Congress and the corresponding implementing
decree has still not been issued.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
