Another record for Santos Brasil

The continuing recovery of international trade and strong domestic demand for foreign goods this year has pushed up cargo flows through Santos, Brazil’s largest port. Within the port, Tecon Santos – Santos Brasil S.A (SBTP) located on the left bank, is the biggest container terminal in Brazil, handling approximately 18% of the country’s total throughput.

The terminal has just reported Q3 net revenues of R$244mn (US$141m), 10% above estimate, and anet income of R$47m, 28% above estimate. During the period, it handled 276,339 containers, up 45.2% year–on-year of which 78% of these were full and 9% ahead of forecasts due to continuing large volumes of imports.

Thanks to the strong volumes and a continuing positive outlook, SBTP has revised it guidance for 2010 to include volumes of 1.4m teu, up from 133m teu and 5% above forecast and EBITDA of R$320m, up from R$290m previously.

In addition, SBTP has increased its Capex budget to R$173m (up from R$137m and 26% above forecast), although the increase is in large part due to the acceleration of investment in Imbituba in order to ensure that construction is completed by mid-2011.
(Source:www.container-mag.com)