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ARTICLE · 21 MARCH 2016

New Rules For Brazilian Navigation Companies

Mayer Brown
Mayer Brown
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It is always worth mentioning that EBNs authorized by ANTAQ have the option to obtain financing with resources from the Brazilian Merchant Marine Fund for the construction of vessels with intent to navigate.

BrazilTransport
Daniel Gunzburger
Daniel Gunzburger
Eduardo Lima
Eduardo Lima
Gustavo Passos Corteletti
Gustavo Passos Corteletti
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On February 25, 2016, Normative Resolution No. 5 ("Resolution") was issued by the Brazilian National Agency of Waterway Transportation ("ANTAQ"), thereby setting forth the criteria and procedures necessary to grant authorization to legal entities with corporate purpose related to navigation and maritime support, as well as port support, long distance and cabotage services. Said entity, designated as a Brazilian navigation company (empresa brasileira de navegação) ("EBN"), must be incorporated in Brazil and have its headquarters and management in Brazil. A 90-day period was provided for currently authorized and operational EBNs to adapt to the new rules set forth in the Resolution, especially those related to the adequacy of the vessels for their intended navigation.

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