ANTAQ holds public hearing to define Weighted Average Cost of Capital in the port sector

This Tuesday (11/19), the National Agency for Water Transport (ANTAQ) held a public hearing regarding the public consultation to obtain contributions, subsidies, and suggestions for the improvement of the modeling proposal to define the Weighted Average Cost of Capital (WACC) applied to the port sector, differentiated by nature of cargo. With the methodology, the Agency intends to update the WACC calculation, making investments in the sector more attractive.

According to the new methodology, specific WACCs will be defined for the different types of terminals, corresponding to the main cargo nature of the port sector, in accordance with the National Port Logistics Plan – PNLP 2015, contemplating cargoes of solid mineral bulk, agricultural solid bulk, liquid fuel bulk, agricultural liquid bulk, general cargo, containerized cargo, and maritime passenger transportation.

As pointed out by director Adalberto Tokarski, the article directly impacts the attractiveness of the port business. “By segmenting capital return rates into seven categories, we hope to match the attractiveness rate of each load with its specific industry. This is the momentum that the country needs at the moment, that is, increasing the regulatory quality with a focus on attracting investments and a good signal for investors, especially foreigners,” he said.

ANTAQ adopted the WACC model to calculate the cost of capital of the port sector in 2007. This methodology was instituted by the Agency still in force of Law No. 8.630/1993, the regulatory framework for ports. Now, with the opening of public consultation and hearing, the Agency puts to the market relevant material that it has been working on in recent months.

“The WACC encompasses the remuneration of the entire capital of the company, housing both the equity and third party capital. This is a parameter for the risk return rate of the sector in which the company and its services are inserted, in order to ensure adequate attractiveness to investors,” explained the substitute manager of Public Ports of the Municipality, Renildo Silva, during the pre-debate presentation.

“This proper attractiveness,” Silva continued, “makes it possible to improve quality and expand service. Thus, it is essential that this rate be set at an appropriate value and reflects the inherent risk of each segment, so that there is the necessary attractiveness and incentive.”

Those interested in contributing to the improvement of the proposal in public consultation may send their suggestions to the local authority until 11:59 pm on 12/04/2019, exclusively through and in the form of the electronic form available on the Agency’s website (www.portal.antaq. gov.br), in Public Hearings and Consultations, public hearing No. 11/2019.

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