Itajaí channel auction receives TCU approval following technical review

The Itajaí channel is expected to have a depth of 15.3 meters in the inner channel and 16 meters in the outer channel (Jonilton Lima/Mpor)

The Federal Court of Accounts (TCU) found no irregularities that would prevent the continuation of the concession auction for the waterway access channel to the Port of Itajaí (SC), but conditioned the publication of the tender notice on compliance with a series of technical, economic, and contractual adjustments.

Reporting Justice Walton Alencar upheld on Tuesday the bidding model established for the tender, with a two-stage evaluation process: first, based on the highest discount on the reference tariff (subject to a discount cap) and, if necessary, based on the highest concession fee payment. He emphasized that the structure prioritizes tariff affordability by favoring competition through lower tariffs.

At the same time, the TCU ordered the Ministry of Ports and Airports and the National Waterway Transportation Agency to present, prior to the publication of the tender notice, updated technical justification and calculation worksheets should any new adjustments to the model affect the tariff discount cap.

Among the main determinations, the court ordered the correction of dredging calculation worksheets to reflect the optimization of depths by section (15.3 meters in the inner channel and 16 meters in the outer channel), with proportional adjustment of the dredging volumes and Capex costs in the cash flow, as well as the correction of the calculation worksheet for the average hauling distance used in the unit dredging cost.

Regarding demand, the reporting justice acknowledged the risk of a mismatch between the delivery of the channel’s new service level and the expansion of the ITJ01 terminal, and ordered a revision of the Technical, Economic and Environmental Feasibility Study (Evtea), including a realistic timeline for the terminal lease.

He also required that any capacity risk-sharing clause be designed so that rebalancing due to demand shortfall may only be triggered if the deficit is systemic across the port complex as a whole, rather than resulting from insufficient performance by a specific terminal.