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New alternatives for financing a river dredging project (Argentina)

New alternatives for financing a river dredging project (Argentina). Raul S. Escalante – Sebastián García – Martín D. Civeira HIDROVIA SA. The world. Argentina. General location. Argentine Waterways 3.000 km. Hidrovía S.A. is a bi-national Company formed by: Jan de Nul NV (from Belgium)

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New alternatives for financing a river dredging project (Argentina)

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  1. New alternatives for financing a river dredging project (Argentina) Raul S. Escalante – Sebastián García – Martín D. Civeira HIDROVIA SA

  2. The world Argentina

  3. General location

  4. Argentine Waterways3.000 km

  5. Hidrovía S.A. is a bi-national Company formed by: • Jan de Nul NV (from Belgium) • Emepa S.A. (from Argentina) With the object of doing: • Capital and maintenance dredging Jan De Nul • Aids to Navigation system Emepa

  6. Waterway in charge of Hidrovía Santa Fe – Confluencia 640 Km Santa Fe – Ocean 1000 Km

  7. Dredging and AtoNservices in Argentina • Owner: ArgentineGovernment • ConcessionExpiring: 2021 • RiskContract • Incomes: • Santa Fe- Ocean: Toll Santa Fe- Confluencia: ArgentineGovernmentFinancing

  8. Santa Fe – OceanWaterway 25 ft navigable depth 34 ft navigable depth Year 2010

  9. Santa Fe - Confluencia 10 ft navigable depth Year 2011/ 2012

  10. Vessels Santa Fe – Confluencia 640 Km Santa Fe – Ocean 1000 Km

  11. Tasksperformed • Capital and maintenancedredging • Bathymetricsurveysfordepth control • AidstoNavigation: deployment and maintenance • Tide, waves and windmeasurements • Environmental Management Plan • Projects and StudiesDepartment • Traffic Control

  12. Total goodsmovement (international and domestic) in thewaterway (SFO) – Year 2010 Total: 111 million tons

  13. Total goodsmovement (international and domestic) in thewaterway (SFN) – Year 2010 (metrictons) Total: 16 milliontons

  14. Toll and Subsides 1995 – 2010Santa Fe – Ocean

  15. 1,2 $ / Ton Toll 2010Santa Fe – Ocean

  16. Toll Formula T = TD + TAtoN TD: Dredging toll TAtoN: Aids to Navigation toll

  17. Toll Formula - AtoN TAtoN = tb x NRT NRT: net register tonnage tb: AtoN coefficient ($/ton)

  18. Toll Formula - Dredging • TD = td x CF x NRT td: Dredgingcoefficient ($/ ton) CF: Correction Factor NRT: net registertonnage

  19. Toll Formula - Dredging

  20. Commodities (soybean) price evolution

  21. Port and River Costs • River Pilotage • Variable Port costs: berth, different vessel and passenger taxes, tug… • Fixed Port costs: customs, maritime agency…

  22. Costs Compared • Pilotage (round trip Recalada-Rosario) 2,35 • HV Toll 1,20 • Tugboat 0,79 • Port taxes 0,30 • Maritime Agent 0,29 • Berth and port facilities (per day) 0,10 • Commodities (soybeam Chicago) + 515,00

  23. Other PracticesShort Dredging Contract • Bidding process • Time consuming • Administrative aspects • Siltation after end of contract • Possible delays in payment

  24. Other PracticesPublic Dredging • Governments can sometimes be quite efficient, but... • Delays • Objectives not accomplished • More “relaxed” controls

  25. Dredging is an Aid to Navigation

  26. Conclusions • Public financing is difficult to maintain through the years • Dredging and AtoN works in charge of the Government sometimes are not as efficient as they should • Ourfinancingdependsonlyonvesselsusingthewaterway, whichreasonabletollfees

  27. Thanks for your attention

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