Shipping 2026

BRAZIL Law and Practice Contributed by: Godofredo Mendes Vianna, Camila Mendes Vianna Cardoso and Lucas Leite Marques, Kincaid | Mendes Vianna Advogados

1.7 Ship Ownership and Mortgages Registry Information relating to ownership and encumbrances over national vessels can be obtained by any third party through certificates issued by the Admiralty Court. Information relating to financing documents and other types of guarantees is usually registered in the Titles and Deeds Registry (RTD), and would also be available through a request for certificates.

if they are not owned by Brazilian citizens or Brazil - ian companies. Although it is not possible to register ownership over a hull, it is possible to register a vessel under construction at the REB, which is used mostly to grant tax benefits to the hull’s construction. 1.5 Temporary Registration of Vessels The Brazilian Shipping Companies (EBNs) may tem - porarily charter foreign-flagged vessels with prior authorisation from ANTAQ, retaining the original flag; or alternatively, bareboat charter a foreign vessel to be temporarily registered in the REB with suspension of its original flag, thereby flying the Brazilian flag. Regarding Brazilian-flagged vessels, Brazil does not allow dual registration suspension of the national flag for registration abroad or under a foreign flag. 1.6 Registration of Mortgages Registration of ship finance agreements is not manda - tory in Brazil, but encumbrances over vessels, such as mortgages, must be issued as a deed by a notary (a maritime notary if available in that jurisdiction) and further registered before the Admiralty Court, if related to a Brazilian-flagged vessel, in order to be considered valid and in effect in Brazil. All maritime mortgages over Brazilian-flagged ves - sels must be constituted through a public deed and registered with the Admiralty Court. The information required to register a mortgage through a public deed is as follows: • the amount of credit – an estimate or maximum amount thereof; • the term established for repayment; • the rate of interest, if applicable; • the vessel’s specifications, such as gross tonnage, deadweight tonnage and other identifying data; • the certificate of insurance of the vessel; and • in turn, mortgages over foreign-flagged vessels operating in Brazil cannot be registered before the Admiralty Court. For this reason, a common alter - native in the Brazilian jurisdiction is to register such documents with the Registry of Titles and Deeds (RTD), with the purpose of mitigating risks, as such registration grants validity and publicity to foreign documents within the national territory.

2. Ship Finance and Leasing 2.1 Ship Loan Finance

In the context of Brazilian jurisdiction, Ship Loan Finance has specific terms and provisions that cater to both debt and equity financing, as well as ship mortgages. First preferred mortgage (hipoteca marítima): Essential for securing debts against the vessel. It grants prior - ity to the lender in case of default. Mortgages over Brazilian-flagged vessels must be registered with the Admiralty Court to be enforceable and provide priority to the lender. In turn, mortgages over foreign-flagged vessels operating in Brazil cannot be registered before the Admiralty Court. For this reason, a common alternative in the Brazil - ian jurisdiction is to register such documents with the Registry of Titles and Deeds (RTD), with the purpose of mitigating risks, as such registration grants validity and publicity to foreign documents within the national territory. In case of default, the mortgagee has the right to repossess the vessel and sell it, ensuring the recovery of the debt. Common transactions: Common transactions include: • vessel acquisition financing – loans specifically for the purchase of new or used vessels; • refinancing – restructuring existing debt to access better financing terms or lower interest rates; and • shipbuilding financing – financing provided throughout the construction phases of new ves - sels.

CHAMBERS.COM