Porto Central secures approval from the Merchant Marine Fund for the initial phase of financing

Porto Central, a deepwater port complex under development on the southern coast of Espírito Santo, has received approval from the Board of Directors of the Merchant Marine Fund (CDFMM) for project financing. The decision was made during the council’s 62nd Ordinary Meeting, held on March 18, 2026.

The approval marks an important step forward for the project’s first phase, although the disbursement of funds still depends on regulatory procedures prior to the formal contracting of the operation. According to the project, the fund’s support is expected to strengthen the capital structure and enhance financial predictability during implementation.

According to Porto Central’s management, the approved financing from the Merchant Marine Fund (FMM) complements an existing financial structure already in place. The company states that the project timeline does not depend on the full release of these funds, as it already has allocated equity capital.

The Merchant Marine Fund is a public policy instrument designed to develop Brazil’s shipbuilding industry and port and waterway infrastructure. Financing operations are conducted by accredited institutions such as BNDES, Caixa Econômica Federal, and Banco do Brasil, and follow specific procedures until contracts are signed.

Under program rules, the operating bank is defined during the contracting phase, within a regulatory period of up to 450 days after approval, with the possibility of a 180-day extension. Fund disbursements are typically made in installments based on the project’s physical progress and compliance with contractual milestones.

According to the Ministry of Ports and Airports, Porto Central was the largest individual project approved at the council meeting. Commenting on the decision, National Secretary of Ports Alex Ávila stated that projects of this scale expand cargo handling capacity, attract new business, and strengthen the country’s logistics integration.

With the onshore area already prepared and a quarry in operation to supply rock, the next phase of the project includes the start of offshore works, such as dredging the access channel and port basin, as well as constructing the southern breakwater.

The first phase of Porto Central is designed to enable oil exports via ship-to-ship transfers. This model enables cargo to be transferred to larger vessels, positioning the terminal as a logistics alternative for the flow of domestic production.

According to the project, contracts have already been signed with Petrobras, Equinor, CNOOC, and Repsol Sinopec, ensuring initial demand for the liquid bulk terminal planned for this stage.

In a broader perspective, Porto Central’s master plan envisions developing a multipurpose hub serving oil, natural gas, new energy, agribusiness, mining, general cargo, and industrial sectors, as well as a container terminal.

With more than 20 million square meters, the complex is among the largest port projects under development in Brazil. According to its developers, the terminal will have a depth of up to 25 meters, enabling it to accommodate large vessels and handle cargo such as crude oil, gas, grains, fertilizers, minerals, containers, and general cargo.

Source: Porto Central

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