Historic voyage of U.S. shale gas to Brazil
FEBRUARY 29, 2016—As we reported on February 25, the 160,000 m3 Asia Vision left Sabine Pass in Texas loaded with U.S.-produced LNG destined for Petrobras in Brazil. Craig Jallal, Senior Data Editor,
FEBRUARY 29, 2016—As we reported on February 25, the 160,000 m3 Asia Vision left Sabine Pass in Texas loaded with U.S.-produced LNG destined for Petrobras in Brazil. Craig Jallal, Senior Data Editor,
It reported today that it has been notified that Petrobras Transportes S.A. (Transpetro) has terminated the contracts for two liquefied petroleum gas (LPG) carriers on order at 50.5% owned indirect subsidiary Vard Promar.
The vessels in question are the last two of a series of eight LPG carriers originally contracted at the Brazilian shipyard in June 2010, for delivery from Vard Promar between 2014 and 2016. The combined contract value for the series of eight vessels was $536 million.
The first of the eight vessels, the 8,000 cu.m Oscar Niemayer, was delivered this past July.
Singapore listed Vard, which is 55.63% controlled by Fincantieri, says that the construction of the two vessels that have now been canceled is “at a very early stage.”
Vard is currently reviewing its overall exposure to the Brazilian market, and it says that the termination of the contracts – if effective – is “expected to reduce the company’s overall exposure. At the same time, the company intends to claim compensation from Transpetro for damages in relation to the terminated contracts.”
Vard says the impact of the termination is not expected to have a material effect on the earnings per share of the Group for the financial year ending December 31, 2015.
Ultrapetrol says it is “exploring alternative courses of action to remedy the situation, including negotiations with Petrobras and employment in other offshore markets.”Ultrapetrol’s Offshore Supply Business continues to operate six PSVs with Petrobras under Brazilian flag or with Brazilian Special Registries (“REB Rights”).
Additionally, the non-Brazilian flagged RSV UP Coral has recently commenced a six-year contract to provide subsea support services to Petrobras, while the two laid-up North Sea vessels, UP Agate and UP Jasper, are currently participating in tenders to enter service with Petrobras as an RSV subsea support vessel and a PSV with REB Rights, respectively.
JULY 17, 2015 — A pair of 43 m Incat Crowther design monohull dive support vessels currently under construction at Brazil’s Arpoadar Engenharia shipyard have been ordered by Oceanica Offshore for service
APRIL 17, 2015—The DP-2 monohull shallow dive support vessel (SDSV) Sistac Victoria was recently delivered by shipbuilder SeaSafe Barcos Manufacturados S.A., Angra dos Reis, Brazil to Sistac Sistemas De Acesso S.A.
FEBRUARY 9, 2015 — Responding to stories in the Brazilian media, Singapore’s Keppel Corporation and Sembcorp Marine have each rejected suggestions of involvement in the Operation Car Wash bribery scandal involving state
FEBRUARY 6, 2015 — Petrobras today announced the new leadership that will replace former Petrobras CEO Maria das Graças Foster and the five other directors who resigned this week as the Brazilian
FEBRUARY 4, 2015 — Petrobras CEO Maria das Graças Foster and five other directors resigned today as a result of the corruption scandal enmeshing the Brazilian state-owned oil company. National daily, O
JANUARY 12, 2015 — Singapore’s Ezra Holdings Limited reports that wholly owned subsidiary London Marine Consultants (LMC) has been awarded a $110 million contract by Sembcorp Marine’s Jurong Shipyard to supply an
DECEMBER 23, 2014 — Moody’s Investors Service today placed Petrobras S.A.’s Baa2 global foreign currency and local currency debt ratings on review for possible downgrade. The rating action reflects concern about potential