On June 19 2012 the National Agency for Waterways Transportation published Resolution 2.510-ANTAQ, which establishes the rules by which authorisation to operate in ocean, coastal, maritime and port supply navigation may be granted to legal persons whose corporate object is waterway transportation.

The new resolution repealed Resolutions 843-ANTAQ/2007 and 879-ANTAQ/2007, as well as their annexes, introducing some important amendments in respect of the previous resolution. Among other things, the new resolution has brought about the following changes:

  • The use of a vessel that is undergoing repairs is permitted in order for an applicant company to meet the requirement of owning a Brazilian vessel. However, the authorisation can be granted only when 50% of the financial timetable has been already completed. Furthermore, authorisation granted to a vessel under repair does not give the company the right to enter into a charter while the vessel is under repair.
  • The minimum owner's equity required for authorised companies to operate in maritime support has been reduced from R2.5 million to R1.25 million.
  • During continued exploration of authorised services, companies must not change the technical, economic, financial, legal or fiscal conditions that were in place when authorisation was obtained.

For further information on this topic please contact Godofredo Mendes Vianna at Law Offices Carl Kincaid by telephone (+55 21 2276 6200), fax (+55 21 2253 4259) or email ([email protected]).