Brazil’s Naval Sector Caps 2024 with R$30 Billion in Investments and Record-Breaking Growth

The Brazilian naval industry and port sector capped 2024 with their best performance in over a decade, fueled by investments totaling R$30.8 billion. The funds supported more than 430 projects, spanning shipbuilding, repairs, dockings, facility modernization, shipyard expansions, and new port infrastructure development. These achievements were largely underpinned by resources from the Merchant Marine Fund (FMM).

Minister of Ports Silvio Costa Filho credited the federal government’s efforts to revitalize and prioritize projects that previous administrations had neglected. He noted that the investment volume approved over the past two years was double the amount allocated during the previous four-year administration.

Surge in Approved Projects

Between 2023 and 2024, the number of projects approved by the FMM surged by 70% compared to the 2019–2022 period, climbing from 768 to 1,300. “There’s no doubt we’re on the right path to restoring the prominence of Brazil’s naval industry and port sector,” the minister said. “In the last two years, nearly R$45 billion in modernization and construction projects have been approved for the sector—double the investment made by the previous government. This translates to more credit, investments, and a stronger sector, driving economic development, job creation, and higher incomes for Brazilians.”

Record Investments

A standout achievement of 2024 was the record-breaking allocation of R$5.33 billion to the naval industry, marking the highest investment since 2012. These funds supported 548 new projects, and the majority focused on inland navigation (415), followed by offshore support (94), port support (37), and cabotage (2).

Combined with investments made in 2023, the government directed R$6.36 billion to new ventures, representing a 326% increase compared to the 2019–2022 administration.

Financing and Future Planning

The Merchant Marine Fund Steering Council (CDFMM) confirmed that companies with approved projects can access financing through partner institutions, including the National Bank for Economic and Social Development (BNDES), Banco do Brasil, Caixa Econômica Federal (CEF), and Banco da Amazônia (Basa). Funds will be released incrementally, aligned with the project’s implementation milestones.

The first CDFMM meeting of 2025 is slated for March 27. The council is expected to set new priorities, continuing the modernization and expansion of Brazil’s naval and port sectors and building on the momentum achieved over the past two years.

Source: Agência Brasil

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