Brazil’s Ministry of Ports and Airports (MPor), through the Merchant Marine Fund Directing Council (CDFMM), approved a package of 13 projects totalling R$ 6 billion in investments at its 62nd Ordinary Meeting, held on March 18. The approved portfolio is expected to generate approximately 2,800 direct jobs and enable 95 projects across the naval and port sectors.
The two largest projects together account for over R$ 4.3 billion of the total approved. Porto Central, a deep-water port development in the state of Espírito Santo, received approval for R$ 2.18 billion in port infrastructure investment, reinforcing the country’s logistics capacity along the southeastern coast. Close behind, Petrobras secured R$ 2.17 billion for the construction of four vessels designed to carry petroleum derivatives — a move aligned with the company’s strategy to expand its own fleet and reduce exposure to chartering costs. The third largest project was awarded to GDE Transportes, which will receive R$ 380.3 million for the construction of 35 vessels for fuel transportation in Brazil’s North region, where waterway transport is structurally critical to local supply chain operations.
Beyond vessel construction, the approved portfolio covers inland navigation, maritime support vessels, and cargo shipping, as well as maintenance, repair and modernisation works at shipyards across several Brazilian states. New project submissions can be presented until April 20, 2026, and approved projects will have up to 450 days — extendable by a further 180 days — to finalise financing agreements with qualified lending institutions, including BNDES, Banco do Brasil, Banco da Amazônia, Banco do Nordeste and Caixa Econômica Federal.
The 63rd Ordinary Meeting of the CDFMM is scheduled for June 18, 2026. The approval comes amid a consistent acceleration of the Fund: throughout 2025, the FMM approved R$ 31.8 billion spread across more than 700 projects, with projections for 2026 pointing to up to R$ 34 billion in new approvals.
The scale and pace of FMM approvals in 2026 reflect a deliberate policy shift, one that elevates port and naval infrastructure to a strategic pillar of national competitiveness — rather than treating it merely as a regional development tool. The concentration of over 70% of this latest round in just two projects (Porto Central and Petrobras’ fleet expansion) signals a clear preference for priority investments, which is a coherent approach given the Fund’s leverage potential. However, the success of this agenda will ultimately depend on execution: the sector’s track record of converting approvals into operational vessels and functional port terminals within contractual deadlines remains a legitimate concern — and one the market is watching with a degree of skepticism.