Marine Log

March 8, 2006

Brazil yards poised for $3 billion Venezuelan deal

Brazilian publication T&B Petroleum says executives from five Brazilian shipyards will meet Venezuelan President Hugo Chavez next week, They are set to sign a $3 billion contract for construction of 36 oil tankers for the PDV Marina unit of national oil company PDVSA.

The deal will reportedly be partly financed by the Brazilian Development Bank (BNDES).

The shipbuilding groups involved are reported to include the Camargo Correa/Samsung group, Maua-Jurong, Keppel Fels, EISA, and Itajai .

The T&B Petro;eum report says 28 tankers will be wholly constructed in Brazil and the hulls of another eight tankers will be constructed in Brazil with the vessels being completeted in Venezuela.

An AP report quotes Sergio Leal, general secretary of Brazil's National Shipbuilders' Federation as saying "we are talking about ships varying from 30,000 to 250,000 tons (of capacity) but we are still working out the details of the deal."