Brazil’s antitrust agency, the Administrative Council for Economic Defense, is set to review a recent authorization that allowed global shipping titans Maersk and MSC to compete in the upcoming auction for the Tecon Santos 10 container terminal. Located at the Port of Santos, Latin America’s largest and busiest maritime gateway, the massive concession is expected to generate 6.45 billion reais, or approximately 1.25 billion dollars, in investments to expand port capacity by around 50 percent. (BNamericas)
The dispute stems from concerns over market concentration in the port region. Maersk’s port operating arm, APM Terminals, and MSC’s subsidiary, Terminal Investment Limited, currently hold equal shares in Brasil Terminal Portuário, a major existing terminal operator at Santos. To address competition hurdles, the two companies proposed a corporate restructuring plan. Under their agreement, if either Maersk or MSC wins the Tecon Santos 10 auction, the winning entity will exit its investment in the existing joint facility and sell its half-share to the other partner.
Although Cade’s General Superintendence accepted this divestment proposal in August, the president of Cade’s board, Diogo Thomson de Andrade, determined that the decision must be referred to the agency’s full collegiate body for a comprehensive review. No deadline has been set for this tribunal review, introducing fresh uncertainty into the timing of the long-awaited bidding process.
The participation of Maersk and MSC has met strong pushback from competing terminal operators. Philippine operator International Container Terminal Services, which also plans to bid for the concession, petitioned Cade to block the two shipping giants outright, arguing that expanding their footprint would consolidate market control. Meanwhile, the high-stakes concession has drawn wide international interest from non-incumbent operators across Asia, Europe, the Middle East, and the Americas. Bidders evaluating the opportunity include Singapore’s PSA International, China’s Cosco Shipping, the United States’ Hudson Ports, Japan’s Ocean Network Express, South Korea’s Hyundai Merchant Marine, Germany’s Hapag-Lloyd, Abu Dhabi Ports, and Brazilian corporate groups J&F and CSN.
