Learn More

IR Dictionary FAQ


Brazilian Financial and Capital Markets Association, an organization that represents institutions, such as banks, asset managers, brokerages, and distributors with the mission of supporting advances in the country’s capital markets. Visti the website of ANBIMA to learn more!

The National Waterway Transportation Agency of Brazil (ANTAQ) is the agency of the Ministry of Infrastructure responsible for regulating and supervising waterway and maritime transport, and for infrastructure dedicated to such activities, which is the case of Brazilian ports.

Annual Shareholders Meeting. Learn about Shareholder Meetings in our FAQ.


B3 – Brasil, Bolsa, Balcão.
Currently, the B3 is the only stock exchange in Brazil and is based in São Paulo.

Board of Auditors
The Board of Auditors is elected by shareholders assembled in the Shareholders Meeting and, in accordance with the Bylaws of Santos Brasil, must be formed be a minimum of three and a maximum of five members. Among other duties, the body conducts oversight of the activities of the managers and assesses their compliance with legal and statutory duties.

Board of Directors
The Board of Directors is elected by shareholders assembled in the Shareholders Meeting and, in accordance with the Bylaws of Santos Brasil, must be formed be a minimum of six and a maximum of ten members. The directors, who are elected to a term of two years and may be reelected, are responsible for establishing the goals, policies and general orientation of the business, for appointing and removing the Statutory Officers, for approving the annual budget and for deliberating on the issue of securities, among other duties. To learn more, go to the Bylaws page!

Board of Statutory Officers
The Board of Statutory Officers is formed by the executive positions provided for in the Bylaws and elected by the Board of Directors, in accordance with the Bylaws of Santos Brasil, and must be formed be a minimum of two and a maximum of five members. Its main responsibilities include executing the general business guidelines of the Board of Directors, preparing the financial statements and managing the Company’s expansion and modernization projects. Click here to learn about the Board of Statutory Officers of Santos Brasil.

Breakbulk Cargo
The shipment of small quantities of goods that do not occupy the entire space of the container or of the vehicle used for transportation, such as a truck. In this case, small lots of goods are allocated in the same container or same truck for finalizing the transportation process.


Simplifying, cabotage is the shipping of cargo between ports in the same country. Want to know the difference between cabotage and transshipment? Go to our FAQ.

Acronym for Compound Annual Growth Rate. By calculating CAGR, you can estimate by how much a variable must grow per year to reach a certain final value.

Portuguese acronym for Centro Logístico Industrial Aduaneiro, which we refer to as Bonded Warehouses. Learn about Bonded Warehouses in our Frequently Asked Questions.

Common Shares
Shares whose main characteristics is assuring the right to vote in Shareholder Meetings.

A container is a piece of equipment used to transport cargo that basically is defined as a metal box with large dimensions for stowing goods.

Container Ship
Container ships are designed especially to transport containers that have specific characteristics that facilitate the loading, conditioning and unloading of cargo.

Credit Rating
A rating assigned by a credit-rating agency to a company that denotes its capacity to service its debt. Santos Brasil was assigned the highest credit rating on the national scale (brAAA) by the rating agency S&P. To read the report, click here.

System in which the product purchased by the consumer is transported to a Distribution Center, which ships it immediately. As such, it enables rapid redistribution of goods to customers!

The Securities and Exchange Commission of Brazil, which is the agency of the federal government responsible for regulating, supervising, and fostering the development of the country’s stock market.


Debentures are securities traded in the capital markets issued by companies to finance their growth projects or acquisitions.

A depot is a warehouse dedicated to empty containers. In this structure, the containers are stored until they are needed to transport cargo to clients.

Destuffing is simply the process of removing cargo from containers. The process of conditioning the cargo in the units is called stuffing, see below!

Dividends represent the portion of the Net Income of the Company that is distributed to shareholders. Brazilian Corporations Law requires companies to distribute to their shareholders a minimum of 25% of Net Income for the fiscal year.

Is the excavation of shipping canals to maintain or increase depth to ensure they remain navigable and safe for vessels.

Dwell Time
Is the average time that cargo remains in the terminal until being loaded or after being unloaded.


Earnings Before Interest, Taxes, Depreciation and Amortization. Refers to operating profit before financial result, income tax and social contribution, depreciation, and amortization.

Extraordinary Shareholders Meeting. Learn about Shareholder Meetings in our FAQ.


Free float
Is the percentage of a company’s total shares that are freely traded on the stock exchange. It excludes shares held by the controlling shareholders and managers of the Company as well as those held by the Company in Treasury.

Freight Agent
Service providers who handle the documentation and physical processes for expediting international freight shipments.


General Cargo
According to the definition of the Foreign Trade System (Siscomex) of the Federal Government, general cargo is any kind of cargo transported in some kind of packaging, such as bags, bales, or boxes. Did you know that stowed or wheeled vehicles also are considered General Cargo? To learn more, go to the website of Siscomex!


Independent Directors
According to the regulations of the Novo Mercado, independent directors may not be:

  • A direct or indirect controlling shareholder of the Company.
  • Have their votes bound by an shareholders agreement related to the Company.
  • Be a relative to the second degree of any manager or controlling shareholder of the Company.
  • Have been, in the last three years, an employee, officer or controlling shareholder of the Company.

Did you know that, in accordance with the Bylaws of Santos Brasil, 40% of members of its Board of Directors must be independent directors?

Acronym for Initial Public Offering, which is a primary offering of shares in a company on the stock exchange, also known as going public.


Lease Agreement
An agreement signed between the owner of a property or space, called the lessor, and the lessee, which is the party interested in commercially exploring the site in exchange for the payment of compensation. In the case of the lease agreements of Santos Brasil, where the properties are publicly owned, the lessee is the Concession Authority, which represents the Federal Government.

Mode of shipping that involves port infrastructure in different countries, in other words, importing or exporting.


Acronym for Mobile Harbour Crane, which is a mobile crane used for loading and unloading containers on ships.

Acronym for Movements Per Hour, a metric that measures the efficiency of a terminal operations while a vessel is docked.


Novo Mercado
The listing segment of B3 with the highest corporate governance standards. Learn more in our FAQ.

Non-Vessel Operating Common Carrier. Companies offering freight consolidation services that do not have their own ships and purchase space on ship-owners’ vessels to ship the cargo of their clients.


Organized Port
According to the Ports Law (Federal Law 12.815/2013), an Organized Port is defined as a set of public assets required for port activities within a geographic space.


Portainer (Ship-to-shore crane)
A portainer crane, also referred to as an STS, is a crane mounted on a trolley for loading and unloading container ships.


Reach Stacker
Equipment used to move and stack containers in rear yards.

Reefer Container
A refrigerated container used to transport cargo that is perishable or sensitive to temperature.

Retention Rate
Percentage of full containers unloaded that remain at the Company for the provision of other logistics services (e.g., warehousing).

Acronym for Rail Mounted Gantry, which are used to move containers to the yards. RMGs travel along rails, which means they have a restricted area of operation.

Acronym for Rubber Tyred Gantry, which is used to move containers in yards. RTGs are wheeled vehicles that can circulate on the reinforced roads of the terminal.


Stuffing is the process of loading cargo into containers. The process of removing goods from units is called de-stuffing, see above!


Tag-along Rights
Mechanism provided for under Brazilian Corporations Law that guarantees certain rights to minority shareholders in cases of transfer of control of the company.

Terminal Tractor
Vehicle similar to a small truck used to move cargo between the quay and rear yard.

The Vehicle Terminal of Santos Brasil, which is located in the Port of Santos.

Portuguese acronym for Terminal Retroportuário Alfandegado, which is a bonded terminal situated adjacent to the port for handling import and export cargo.

Transfer Agent
The institution contracted by companies with shares listed on the stock exchange for the custody and administration of the shares, as well as for making shared-based payments to shareholders.

Process in which goods arrive at the port, undergo the customs clearance process, are transferred from one transportation means to another (same or other mode) and proceed to another destination. Want to know the difference between cabotage and transshipment? Go to our FAQ.

Twenty-Foot Equivalent Unit (TEU)
Unit of measure equivalent to a 20-foot container.