Petrobras settles suit with Vanguard Group

JUNE 20, 2017—The board of directors of Brazil’s state-run oil company Petrobras has approved an agreement to settle a shareholder lawsuit brought in U.S. Federal Court by The Vanguard Group, one of

Pipelay vessel snags long term charter from Petrobras

APRIL 19, 2017 — DOF Subsea and TechnipFMC report that the Skandi Búzios, a pipelay support vessel (PLSV) owned by the joint venture formed between DOF Subsea (50%) TechnipFMC (50%), last week

Six new Fast Supply Vessels delivered for Brazil

MARCH 8, 2017—The final six in a series of twelve 48m DP-1 monohull Fast Supply Vessels (FSVs) were recently delivered by Brazilian shipyard ETP Engenharia for operation in Brazil, according to the

DOF Subsea to sell Skandi Santos

SEPTEMBER 20, 2016 — DOF Subsea Rederi AS has a agreed to sell its 2009-built subsea vessel Skandi Santos to a new 50/50 joint venture being formed by AKOFS Offshore AS and

Brazilian shipyard delivers Damen PSV 500

AUGUST 1, 2016 — Wilson Sons Ultratug Offshore, a joint venture between Wilson Sons and Chilean maritime services provider Ultramar, has taken delivery of a Damen PSV 5000, built at Wilson Sons

Subsea 7 takes $47 million hit in Brazil

JUNE 1, 2016 — Oslo-listed Subsea 7 S.A. reports the early termination of the day-rate contract for its  Pipelay Support Vessel (PLSV), Seven Mar, working for Petrobras, offshore Brazil, effective May 31,

IHI sheds stake in Brazilian shipyard EAS

MARCH 15, 2015 —Japan’s IHI Corporation reports that its majority owned Brazilian subsidiary JEI is to transfer its entire equity interest in shipbuilder Estaleiro Atlântico Sul S.A (EAS) to the other shareholders

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,

Transpetro cancels two LPG newbuilds at Vard Promar

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.

Petrobras to terminate three Ultrapetrol PSV contracts

 

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.

LOAD MORE