BRAZIL Law and Practice Contributed by: Godofredo Mendes Vianna, Camila Mendes Vianna Cardoso and Lucas Leite Marques, Kincaid | Mendes Vianna Advogados
is to charter vessels to Brazilian or foreign shipping companies. Accordingly, an EBIN may own and char - ter vessels without being required to demonstrate commercial operation. This framework enables new contractual arrangements and financing opportunities. EBINs shall be registered with ANTAQ if they intend to use their tonnage rights, but prior authorisation from the Agency is not required to exercise their activities.
In addition, the new law also brings changes relating to additional freight, ship finance, insurance require - ments, allowance for fleet growth in case of sustain - able vessels, and amendments to the Adicional ao Frete para Renovação da Marinha Mercante (AFRMM) and Fundo da Marinha Mercante (FMM) rules, as well as other matters. Many of these innovations are not restricted to the cabotage market, but also applicable to other shipping modalities in Brazil.
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