Biggest Brazil Port bullish
The Santos Port Authority (SPA) in Brazil has reported its figures for Q3/2022 and 9M/2022. Brazil's major port witnessed an uptick of 38.3% in profit in Q3/2022 compared to Q3/2021, amounting to BRL 136 million (USD 26 million). Volumes also increased, with the port handling 42.8 million t in the quarter, a growth of 17.8%. The cargo volumes pushed revenues as well as profit.
From January to September this year, net income increased 55.2% over the same period in 2021, amounting to BRL 416 million (USD 77 million), already beating the result of the full year of 2021 (BRL 329 million). Santos handled 486,300 teu in September 2022, a new peak in the history of the port.
SPA's director of administration and finance, Marcus Mingoni, commented: "The successive advances in the rationalisation of expenses and revenue optimisation allowed the company to record the best profit for the third quarter of Porto's history." (sh)