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Marine Log

August 1, 2006

PDVSA to build shipyard

Venezuela's state-owned Petroleos de Venezuela (PDVSA) has signed a letter of intent with Brazilian construction company Andrade Gutierrez, S.A. to build a shipyard in Venezuela.

Marine president of PDVSA, Asdrubal Chavez, said construction of the yard will start next year, with ship construction starting in 2009.

PDVSA's plans call for 42 tankers to be added to the national fleet by 2012. Today's PDVSA statement does not specifically state how many of these would be built by the new yard.

Almost exactly a year ago Venezuelan President Hugo Chavez initialed an agreement between PDVSA and Argentina's Rio Santiago covering construction of two tankers plus options for two more.

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