The day after the Ministry of Ports and Airports (MPor) sent the auction documents for Tecon Santos 10 to Antaq, JBS Terminais - the holding company's arm that has operated a white-flag terminal in the Port of Itajaí, Santa Catarina, since 2024 - analyzed the possibility of the company participating in the bidding process, which should take place by the end of the first quarter.
“We are actively observing opportunities, but we still don’t know the amount of investment needed, the average number of containers that would need to be handled, and the final rules of the auction to know if it aligns with our strategy,” said the CEO of JBS Terminais, Aristides Russi Jr., at a meeting with journalists in Itajaí, Santa Catarina.
To guarantee the legal security and competitive viability of the bidding process, the Public Prosecutor's Office (MPor) accepted the recommendations and determinations of the Federal Court of Accounts (TCU), especially those concerning market concentration. A minimum grant value of R$ 500 million was established – well below the R$ 6 billion projected by the market, an amount that would certainly limit the competition to international giants in the sector.
"Right now, we still need the documents to be available for everyone to analyze. What we can say is that we have proven that we are capable of generating efficiency and adding value to our client's supply chain," stated Russi Jr.
The executive said he expects strong international competition for Tecon 10, especially since there are no plans for other large-scale port auctions in the country in the medium term.
JBS Terminais' participation in the auction gained momentum after the long – and controversial – process of drafting the bidding model proposed by the National Agency for Waterway Transportation. And rumors began to circulate about a possible alliance between the company and the Philippine giant ICTSI in the auction.
But the CEO dodged questions about JBS Terminais' interest in partnering with any large international operator, given that the asset to be auctioned in Santos has a much greater capacity than the terminal that JBS operates in Itajaí.
In the port of Santa Catarina, the JBS terminal has 1,030 meters of quay and four berths. The infrastructure also includes 1,750 outlets for refrigerated containers and eight reversible gates. Since taking over the operation of the container terminal at the Port of Itajaí in October 2024, JBS Terminais has invested R$ 130 million. A further R$ 90 million is projected for the new investment cycle.
The new terminal in Santos will occupy 622,000 m², increasing cargo capacity by 50%. The auction is expected to require an investment of R$ 40 billion over 25 years. The project foresees up to 3.5 million TEUs/year – each TEU represents a 20-foot container, or about 6 meters – four berthing berths and a passenger terminal. In Itajaí, JBS plans to increase container traffic to 44,000 TEUs by 2026.
Political nature
An industry expert interviewed by NeoFeed , who wished to remain anonymous, said that the entire process of drafting the tender, and the suggestions from the TCU (Brazilian Federal Court of Accounts), indicate a "clear and politically motivated maneuver at various levels" to benefit new entrants.
The first phase is restricted to companies without container operations at the port, to avoid market concentration – which practically ruled out the MSC and Maersk groups, associated with BPT, as well as CMA CGM and DP World, from the competition.
If there are no interested parties – a highly unlikely scenario, as at least 10 major global companies in the sector are expected to participate in the auction – the bidding will be open to current container operators in Santos. Therefore, if a shipping company (a company that owns ships) were to win the bid, it would be forced to divest its current asset.
Last year, JBS Terminais hired executive Márcio Guiot as the company's new director of new business development. Guiot previously served as president of the Port of Suape, in Pernambuco.
Another industry source with connections to ICTSI claims to be unaware of any potential partnership between the Philippine company and JBS Terminals. "ICTSI typically enters these types of projects on its own," they say.
The participation of international giants is another controversial point. The Chinese giant Cosco, which transports about 10% of the containers in circulation on the planet in more than 500 ships, being the fourth largest global shipping company (behind only the Swiss MSC, the Danish Maersk and the French CMA CGM), is excluded from the competition if it enters the bidding process alone.
On Tuesday, January 13th, Cosco announced that it had filed a request for reconsideration of Ruling No. 2894/2025-TCU, which suggested the exclusion of international shipowners from the auction.
The company alleges that the TCU (Brazilian Federal Court of Accounts) lacked the competence to make the suggestion, in addition to denouncing the excessive intervention of the body, violation of bidding principles, undue substitution of the discretion of the regulator and political bodies by the discretion of the controller (TCU), lack of competitive basis for the veto, and the need for public consultation.
(The journalist traveled to Itajaí at the invitation of JBS Terminals)
