Profitability of Future Moin Port

Costa Rica is not obligated to compensate the concession holder APM Terminals if the minimum load volumes estimated in the contract are not met.

Wednesday, July 4, 2012

An article in reports that Carolina Murillo Alvarez, an economist at the Regulatory Authority for Public Services (Aresep), "said that the State is not required to indemnify APM Terminals (concessionaire of the docks), if the estimated minimum load volumes in the contract are not reached."

The official was called on to testify in a lawsuit brought by the National Banana Chamber against the State and the Workers' Union of Japdeva, the current manager of the ports of Limon and Moin on the Caribbean coast of Costa Rica.

"According to Randall Quirós, attorney for the banana companies, although the rates are not adjusted every time the operator so desires, the state did increase the internal rate of return (future returns on investment), to go from 15% to 17.5% for APM Terminals. "

The rate for moving each container in the future port of APM Terminals will be $223 adjustable for inflation as determined by Aresep.

More on this topic

Costa Rica: 21% Increase in Port Charges Rejected

June 2011

The Regulatory Authority for Public Services has rejected the increase in port charges at the Moin and Limon ports as requested by Japdeva.

A press release by the Regulatory Authority for Public Services (ARESP) states:

The Port Authority Board of Economic Development and the Atlantic (Japdeva) which is responsible for providing port services in Limon and Moin, has asked the Regulatory Authority for an average increase of 21% in port charges. The previous tariff setting was made in 2003.

Costa Rican State Sued due to Moin Concession

March 2011

The National Banana Chamber filed a lawsuit in order to nullify the award to a foreign company of a new container port in Moin.

Among arguments included in the law suit presented before the Administrative Court, it states that the tender lacks any technical, environmental or financial studies.

Costa Rica: 21% Increase in Port Rates Requested

February 2011

Japdeva has requested an increase of 21% in rates at ports of Limon and Moin in the Costa Rican Caribbean.

The Board of the Port Administration and Economic Development of the Atlantic (Japdeva) submitted the application to the Regulatory Authority for Public Services (Aresep), who must decide whether it supports the increase. The process could last about 75 days.

Single Offer Received for Moín Container Shipping Terminal Project

August 2010

Only one company, APM Terminals, has submitted a tender to build an operate the container port in Costa Rica.

Costa Rica's National Concessions Council has 45 days to evaluate the technical offer and if it meets the bid criteria required the next step is the economic offer evaluation with the contract due to be awarded by the end of the year.

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