SÃO PAULO, BRAZIL - Involved in a series of scandals in recent years, Latin America's largest port complex is undergoing restructuring with a view to privatization.
Since the beginning of the year, Companhia Docas do Estado de São Paulo (São Paulo State's Dock Company - CODESP), now called the Santos Port Authority (SPA), has implemented several changes to reduce costs and increase revenues. The initiatives range from cutting staff, limiting some benefits and reviewing port contracts.
The measures should help the port authority reverse the loss of R$468 million (US$117 million) last year and raise . . .