The norm, in detail
Hidrovía: the deregulation Congress stopped
DNU 340/2025 (rejected; reversed by Decreto 628/2025)
pendingNATIONAL
Market deregulation
DNU 340/2025 opened hidrovía cabotage to foreign vessels; Congress rejected it and Decreto 628/2025 restored the flag requirement.
What changed and who it applies to
What changed
DNU 340/2025 approved the 'Exception Regime of the National Merchant Marine': it declared maritime and/or river commercial-transport navigation an essential service (art. 2), opened cabotage to foreign vessels by permit of up to 180 renewable days in the absence of national vessels (art. 6 of the replaced Decree-Ley 19.492/44), amended Decree-Ley 19.492/1944, Ley 20.094, Ley 27.419 and Ley 25.877, and allowed the temporary suspension of the national registry (flag) for up to 10 years for international traffic (art. 26 of the replaced Ley 27.419). IT IS NOT IN FORCE: Congress rejected the DNU (Chamber of Deputies Res. 39/2025 of Aug 6, 2025 and Senate Res. 57/2025 of Aug 21, 2025, both published Aug 25, 2025) and the Executive Branch, via Decreto 628/2025 (Official Gazette Sep 3, 2025), reinstated the previous framework (Ley 20.094, Decree-Ley 19.492/1944, Ley 27.419). The deregulation was reversed. verif May 21, 2025 ↗
In force
It was in force from its publication (May 21, 2025) until its reversal by Decreto 628/2025 (Official Gazette Sep 3, 2025). As of June 2026 it is NOT in force: the regulatory framework prior to DNU 340 was reinstated. verif Sep 3, 2025 ↗
Are you in or out?
Cabotage shipowners and operators (maritime and river), Paraguay-Paraná waterway shippers, embarked crews and maritime unions, and shippers/exporters who move grains and goods along the waterway. The reversal leaves cabotage again reserved to national-flag vessels under the previous regime. verif May 21, 2025 ↗
The norm
DNU 340/2025 (DNU-2025-340-APN-PTE), signed May 20, 2025, published in the BO May 21, 2025, issued under art. 99 inc. 3 of the Constitution. Rejected by both chambers of Congress (Chamber of Deputies Res. 39/2025, Senate Res. 57/2025) and reversed by Decreto 628/2025 (signed Sep 2, 2025, BO Sep 3, 2025). verif May 21, 2025 ↗
Our reading
The deregulatory course is the right one (R4 · opening and deregulation): opening cabotage and the waterway to foreign vessels lowered the logistics cost of the country's main export outlet. Here what failed was not the program but the route: Congress rejected the DNU and the Executive itself reinstated the previous framework. The bet stands by law or by an instrument that gets around the legislative veto; the risk to watch is dependence on the parliamentary front (R7 · federal-provincial tension), not a change in the Government's conviction. thesis
Where it lands, province by province1
Río Negro The San Matías Gulf is the country's new maritime market: two monobuoys, up to four floating LNG units and export vessels in rotation. The decree would have opened cabotage to foreign-flagged ships; Congress rejected it and the previous regime was restored. What remains is a market reserved for the national flag — a door for whoever flags here — and a higher maritime support cost than under an open regime. mixed opening and deregulation thesis
The other rules on this subject39
The IGJ digitizes companies' financial statementsIGJ General Res. 9/2026 (RESOG-2026-9-APN-IGJ#MJ), Official Gazette Jul 2, 2026in force
Domestic trade: price-control and intervention rules fallRes. 12/2026 SIC (Official Gazette Jun 9, 2026)in force
Ley Hojarasca: cleanup of the legal framework (still in the Senate)Bill CD-1/26 (first-round approval May 20, 2026)pending
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