A private operator was awarded a 30-year concession for container terminal operations at Puerto Cortes, Honduras. Nathan was contracted by the fiduciary to verify compliance with the obligation of the terminal operator to act in accordance to the level of service, productivity, and other conditions established in the concession agreement. As the operations inspector, Nathan made regular site visits to monitor performance, check that investments by the operator complied with the provisions of the agreement, and identify any gaps or inefficiencies in technical, operational, and financial performance.

Based on the technical inspections, operational, and financial analysis, Nathan issued monthly reports and recommendations to the fiduciary, which include reference to deviations in performance parameters, tariff regimes, or operational functions from the concession obligations of the operator. Additionally, Nathan established the conditions required to mitigate and correct deficiencies.

Nathan was also tasked to issue its independent opinion on the manual of procedure for the verification of compliance from the concession agreement, regulation of terminal operations, any proposed changes in the concession agreement brought to the port’s governing technical committee, and compliance with the maintenance plan. Nathan actively participated in reviews submitted to the technical committee, the trustee and the government authorities related to the fulfillment of obligations relating to the concession agreement.

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