Santos Port Authority to compensate discounts not granted to operators

The Santos Port Authority (APS) will return amounts referring to discounts not granted on tariffs charged between 2014 and 2019. Brasil Terminal Portuário (BTP) and Santos Brasil received the difference in the fees upon authorization from the National Waterway Transport Agency (Antaq).

The inconsistent values were verified by APS itself, which found that the information entered in the online tracking system SED used by the port authority to control cargo movements and charges did not consider the transshipment containers operated by those companies, which should have had a discount on the fees.

APS, in agreement with the Brazilian Association of Port Terminals (ABTP), which represented the terminals, worked with the Federal Data Processing Service (Serpro) to directly assess from the Federal Revenue the information relating to the transshipment loads of that period.

Without considering current values, a potential correction of 13% of container movement was verified for Santos Brasil and 5% for BTP in 2014, resulting in a projected credit of R$ 483,000 and R$ 129,000, respectively.

APS will return the amounts found immediately and, in accordance with the Antaq Agreement, will quickly verify the data for the period 2015-2019 and credit the interested parties. The accounting variation will be reported in the Company’s annual financial statements if relevant.

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