CODESA – Companhia Docas do Espirito Santo

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The privatization of Companhia Docas do Espírito Santo – CODESA was approved at the 3rd Meeting of the PPI Council through Resolution No. 14, of 08/23/2017, converted into Decree No. 9,852, of 06/25/2019. The promotion of the privatization of Companhia Docas do Espirito Santo (CODESA), with a view to modernizing its port management, attracting investments and improving the sector's operation is in line with the sectoral policy and the Federal Government's guidelines for seeking investment in infrastructure through partnerships with the private sector. The project is justified, as the premises for contracting services and purchasing products to which the Brazilian public sector is subjected are obstacles to the efficient management of a port asset, which fundamentally depends on agility in decision-making, in order to allow managers to react promptly to constant modernization processes and technological advances specific to the sector. In this way, the participation of the private sector in these projects proves to be a viable alternative to exempting the State, with regard to financial obligations as well as administrative issues, and will allow investment and management responsibilities to be attributed to the private sector. compatible with its technical, operational and financial capacity. CODESA was created by Decree No. 87,560, of September 9, 1982, which provides for the transformation of PORTOCEL Porto Especializado de Barra do Riacho S.A. into Companhia Docas do Espírito Santo – CODESA, a Federal Mixed Economy company, linked to the Ministry of Infrastructure , endowed with legal personality under private law and governed by legislation that deals with the legal regime for the operation of organized ports and port facilities. The corporate purpose of CODESA, in harmony with the plans, programs and guidelines of this Ministry, is to exercise the function of Port Authority and manage and commercially exploit the organized ports of Vitória and Barra do Riacho. CODESA achieved good economic and financial results in 2016. Despite the drop in the volume handled in public and private ports, CODESA established a new record for Gross Revenue, which totaled R$ 134.13 million in 2016. Growth of revenue, when compared to the previous year, was around 0.89% in 2016. In 2016, the Company presented a Net Profit of R$747.16 thousand. Given the significant impact of the resurgence of the economic crisis on the port sector, the record of a positive net result must be celebrated. At the end of 2016, the Company had 336 employees. From an operational point of view, in 2016, the Port of Vitória recorded a movement of 6.5 million tons, which represented a drop of 10.83% compared to the previous year. The main cargo handled at the Port of Vitória in 2016 was pig iron; gasoline, diesel oil, alcohol and other fuels; malt, wheat and corn; fertilizers; coal coke; copper and its concentrates; marbles and granites and caustic soda.