2024 witnessed record-breaking expansion investments in the shipbuilding industry
Brazil’s shipbuilding and port sectors concluded 2024 with their most significant investment in 12 years, marking a transformative period for the country’s maritime economy. This is reported by Toda Palavra, a partner of TV BRICS.
The industry has secured funding for more than 430 projects, including construction, repair, docking, equipment modernisation, shipyard expansions, and new port infrastructure.
The approved funding in the last two years doubled the total prioritised during the preceding four years.
Between 2023 and 2024, the number of projects rose by 70 per cent, increasing from 768 projects over four years (2019–2022) to 1,300 within just two years.
2024 also witnessed record-breaking expansion investments in the shipbuilding industry. Contracts worth US$870 million were signed for 548 new projects, the highest volume since 2012. Most of these initiatives focused on inland navigation (415 projects), followed by maritime support (94), port support (37), and cabotage (2).
Combined with 2023 figures, the government allocated US$1.04 billion to new ventures, a 326 per cent increase compared to the previous administration’s period (2019–2022).
Photo: iStock
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