Petrobras Takes Delivery of Third Tanker Under 49-Ship Newbuild Program

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July 9, 2012

Sergio Buarque de Holanda. Photo: Petrobas

RIO DE JANEIRO–Brazilian state oil and gas producer Petroleo Brasileiro S/A (PBR. PETR4.BR), or Petrobras, took delivery Monday of a third oil tanker under its current 10.8 billion-Brazilian-reais ($5.32 billion) shipbuilding program, Petrobras transport arm Transpetro said.

The tanker, named Sergio Buarque de Holanda after a Brazilian writer, is 183 meters long with capacity to transport 56 million liters of fuel, Transpetro said. It’s the 200th ship to be built by Brazil’s Maua shipyard in Rio de Janeiro state, Transpetro said.

Petrobras’s Promef ship modernization and construction program foresees a total investment of BRL10.8 billion on 49 ships that will be used by the oil and gas company, for delivery by around 2016. The first two tankers were delivered in November and May, also built by Brazilian shipyards, and a fourth is due for delivery before the end of this year.

Transpetro’s president, Sergio Machado, said that the ship delivered to Petrobras in November, named Celso Furtado, was the first Brazilian-made ship to be acquired by Petrobras in 14 years.

“After 14 years without building any oil tankers, the Brazilian shipbuilding industry is starting to gain pace,” Mr. Machado said at a ceremony to mark the ship’s delivery. “We’re going to concentrate now on seeking greater productivity, to allow the sector to gain international competitiveness.”

Brazil has the fourth biggest order book for ships worldwide, Mr. Machado said.

Copyright © 2012 Dow Jones & Company, Inc.

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