CDRJ revenues hit record high in 2020 and continue to grow

On January 28, Companhia Docas do Rio de Janeiro (CDRJ), the port authority responsible for managing the Ports of Rio de Janeiro, Itaguaí, Niterói, and Angra dos Reis, released the 2020 year-end balance sheet and their 3-year business plan. Last year, the company’s ports reached a volume of 54.765 million tons of cargo handled, an increase of 8.6% compared to 2019. Revenues hit a record high of R$ 639.1 million, an increase of 30% compared to 2019. For 2021, the estimated total revenue is R$ 742 million, a forecast 18% higher than in 2020.

According to Jean Paulo Castro e Silva, Director of Market Relations and Planning at CDRJ, the 2020 result represents the largest annual variation in the 2015-2020 period, both in terms of cargo handling and billing: “The result demonstrates not only the resilience of the terminals that operate in the ports but also the company’s ability to adapt and to quickly manage change in the face of the unprecedented challenges that arose in 2020, coupled with the high prices of iron ore and the dollar”, he said.

Focusing on company growth, Docas do Rio approved the 2021-2023 business plan with R$2.1 billion of investments foreseen for the period, an amount that will be applied in actions related to the port administration, existing leases, and new leases. Director Jean Paulo explains that the total estimated revenue of R$ 742 million “includes the expected increases of the current leasing contracts, the new format for charging waterway tariffs, the new leases, and the transfer properties that are part of the Divestment Plan ”.

The approval of the business plan, drawn up by employees from different sectors of the company, is an assignment provided for in Law 13.303, also known as the ‘State-Owned Companies Law’, but for the CEO of Docas do Rio, Francisco Antonio de Magalhães Laranjeira, approval of the plan is not just for purposes of legal compliance: “Approval of the business plan demonstrates the commitment of the Executive Board of Docas do Rio to meet the demands of the market, recognizing the efficiency and transparency of our actions.”

In addition to the investment and revenue forecast, the document includes the main commercial strategies, objectives, and actions such as new leases, the improvement of activities aimed at socio-environmental development, obtaining licenses for port operations, and the technological modernization of port operations.

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