Port Operator CODESA "Companhia Docas do Espírito Santo" Privatization
The privatization of the Docas do Espirito Santo Company (CODESA), aiming at modernizing its port management, attracting investments and improving the operation of the sector, has adherence to the sectorial policy and the Federal Government's guidelines for seeking investments in infrastructure through Partnerships with the private sector. The studies that involve the definition of the privatization model and contract guidelines will be contracted by BNDES.
The project justifies, therefore, the premises that services and acquisition of products within the Brazilian public sector are obstacles to the efficient management of a port asset, which depends fundamentally on the agility in the decision making, in order to enable managers to react promptly to the ongoing processes of modernization and technological advances.
Thus, the participation of the private sector in these projects proves to be a viable alternative for the State's exemption regarding financial obligations as well as administrative matters and will allow the private initiative to be entrusted with investment and management responsibilities, compatible with its technical, operational and financial capacity.
CODESA was created by Decree No. 87,560 of September 9, 1982, which provides for the transformation of PORTOCEL Specialized Port of Barra do Riacho SA into Companhia Docas do Espírito Santo - CODESA, a joint Federal Economy company, linked to the Ministry of Transportation , Ports and Civil Aviation, with legal personality under private law and governed by legislation that deals with the legal regime for the operation of organized ports and port facilities. The corporate purpose of CODESA, in harmony with the plans, programs and guidelines of this Ministry, is to exercise the function of Port Authority and to administer and commercially operate the organized ports of Vitória, Capuaba, Praia Mole and Barra do Riacho and other port facilities located in State of Espírito Santo that are incorporated to it.
CODESA achieved good economic and financial results in 2016. Despite the decrease in volume in public and private ports, CODESA established a new record in Gross Revenues, which totaled R $ 134.13 million in 2016. Growth Of revenues, when compared to the previous year, was 0.89% in 2016. In 2016, the Company had a Net Income of R $ 747.16 thousand. In view of the significant impact of the resurgence of the economic crisis in the port sector, the recording of a positive net result should be celebrated. By the end of 2016, the Company had 336 employees.
From the operational point of view, in 2016, the Port of Vitória registered a handling of 6.5 million tons, which represented a drop of 10.83% compared to the previous year. The main cargo handled at the Port of Vitória in 2016 were pig iron; Gasoline, diesel fuel, alcohol and other fuels; Malt, wheat and corn; Fertilizers; Coke of coal; Copper and its concentrates; Marbles and granites and caustic soda.