In recent years, issues related to transportation and urban mobility entered, more significantly, on the social sciences discussions, gaining prominence in political, economic and social context s discussions. Brazilians big cities are deeply marked by inadequate conditions of people and goods displacement s. In addition to the poor condition of public transportation, already widely documented, recently restrictions on access and sustainabilities in the large cities of the country worsened, generating impacts on the quality of life and on the social and economic activities. Generally speaking, the main problem of this research lies on the poor quality of the management of passengers waterway transportation in Guanabara Bay , currently characterized by constant vessels delays, high tariffs , overcrowd inside the barges and the few regular and terminals lines and the limitation of their intermodal connections. The guiding hypothesis of this paper argues that the decisive point of low quality of this kind transportation has a political and economic backgrounds and is historically a monopoly in this aera. Accordingly, the aim of this study is to analyze the nature of the management of waterway transportation of passengers in Rio de Janeiro , assessing the monopoly influence on quality service and their territorial reflexes such as the emergence of an underground waterway transportation on the east bank Guanabara Bay