Turnover at Docas do Rio up 228% in January YoY

Companhia das Docas do Rio de Janeiro (CDRJ), the port authority responsible for the administration of the Ports of Rio de Janeiro, Itaguaí, Niterói, and Angra dos Reis, billed a total of R$ 112.7 million in January 2021, a 228% increase compared to the R$ 34.3 million billed in the same month of 2020. This is a new record for the month since the billing in January this year is 110% higher than the average billed in the same month for the years 2015 to 2020 (when updated by IGPM to January 2021 values).

According to the company, this month’s sales reached this record level due to a combination of factors: one month’s advance payment of the difference collected for the minimum annual movement defined in the lease agreements; the increase in cargo handling in December 2020 when compared to December 2019; the great appreciation of iron ore in reais due to the rise in the value of the commodity in international markets and the dollar’s strong appreciation against the real.

The Port of Rio de Janeiro alone presented exceptional results with an increase of R$ 53.1 million in revenues in January 2021, a result that is 351% higher than the R$ 15.1 million obtained in the same month of 2020. This was mainly due to the greater efficiency of the billing process, making it possible to receive a payment one month in advance for the collection of the smallest difference in relation to the minimum movement of 2020 committed in the take-or-pay clause of the lease agreements. This billing item alone was responsible for 95% of the billing increase in relation to January 2020.

In the Port of Itaguaí, January revenues were 137% higher than that recorded in the same month of 2020, corresponding to an incremental R$ 25.2 million. This increase is explained by the 8.3% increase in cargo handling at the referred port in December 2020 compared to the same month in 2019 (the one-month turnover is based on the handling of the previous month) and the increase in the value of iron ore, the main product handled at the port, together with the rise in the dollar against the real.

In addition to the significant revenue growth, CDRJ also registered an increase of 1 million tons compared to January 2020, corresponding to a 33% increase YoY. In the Port of Rio de Janeiro, the increase was 8% when comparing January 2021 with January 2020. In the Port of Itaguaí, the growth was 39%.

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