Ecovix News

In a first, Brazilian oil company Petrobras last week reportedly sold the P-32 FPSO for sustainable recycling in Brazil, paving the way for the development of the local ship recycling industry.The sale of the floating unit P-32 reportedly took place on July 7, 2023. In a collaboration supervised by Petrobras, the steel company Gerdau S.A. and shipyard Ecovix have been entrusted with the responsible and environmentally sound recycling of the FPSO."This decision marks the first time a commercial vessel at the end of its lifecycle will be dismantled in Brazil.

Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais ($2.4 billion) and a plunge in shipbuilding. In a statement on Friday, Ecovix said Banco Brasil Plural SA and law firm Felsberg Advogados will advise it on bankruptcy protection proceedings, which will take place in a court based in the southern Brazilian state of Rio Grande do Sul. Cash at the shipbuilder is being depleted at this point, the statement said. ($1 = 3.3845 reais) (Reporting by Guillermo Parra-Bernal; Editing by Jonathan Oatis)

Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais ($2.4 billion) and a plunge in shipbuilding. In a statement on Friday, Ecovix said Banco Brasil Plural SA and law firm Felsberg Advogados will advise it on bankruptcy protection proceedings, which will take place in a court based in the southern Brazilian state of Rio Grande do Sul. Cash at the shipbuilder is being depleted at this point, the statement said.

Brazilian shipbuilder Engevix Construcoes Oceanicas (Ecovix) is expected to file for bankruptcy protection from creditors in a local court this month, the newspaper Valor Economico said on Wednesday. The company, based in Rio de Janeiro, has more than 6 billion reais ($1.7 billion) in outstanding debts, according to Valor. Ecovix did not immediately respond to requests for comment made via phone and email. According to Valor, Ecovix's creditors include state-run oil company Petrobras, suppliers, China's Cosco, Norway's NOV and also local banks Bradesco, Banco do Brasil and Caixa Economica Federal. The company's expected request for protection from creditors is intended to give it room to negotiate a debt restructuring and the sale of company assets to new investors, the paper said.

A consortium of Japanese shipyards decided to sell its stake of Ecovix, which controls the Rio Grande Shipyard, reports Reuters. Mitsubishi Heavy Industries, four other shipbuilders said in October 2013 acquired 30% of Ecovix-Engevix Construcoes Oceanicas in a deal reportedly worth some 30 billion yen (about $305 million at the time). In addition to MHI, the Japanese group includes Mitsubishi Co and the Imabari, Namura and Oshima Shipbuilding companies. Mitsubishi Heavy owns about half of the stake, bought through a special-purpose company. The buyer of the slice will be the Jackson Empreendimentos, parent company of Engevix contractor and owner of 70% of Ecovix.

A group of Japanese shipbuilders led by Mitsubishi Heavy Industries Ltd (MHI) plans to exit its 30 percent stake in Brazilian shipbuilder Ecovix and declare the investment as a loss, Valor Economico newspaper reported on Tuesday. The group led by MHI plans to sell its stake in Ecovix, which it bought in 2013 for about $300 million, to Jackson Empreendimentos for a "symbolic amount," Valor reported. Jackson Empreendimentos owns the remaining 70 percent of Ecovix, the controller of Estaleiro Rio Grande (ERG) shipyard in the Brazilian city of Rio Grande. In addition to MHI, the Japanese group includes Mitsubishi Co and the Imabari, Namura and Oshima Shipbuilding companies, the newspaper reported. MHI's Brazilian unit did not answer calls requesting comment.

There are 320 oil/gas floating production units are now in service, on order or available for reuse on another field. FPSOs account for 64% of the existing systems, 79% of systems on order. Production semis, barges, spars and TLPs comprise the balance. Total oil/gas inventory is the same as last month – but two units on order last month (N’Goma FPSO and Delta House Semi) were completed and are now in the active inventory. Another 29 floating LNG processing systems are in service or on order. Liquefaction floaters account for 17%, regasification floaters 83%.

Five Japanese companies – Mitsubishi Heavy Industries, Ltd. (MHI), Imabari Shipbuilding Co., Ltd., Namura Shipbuilding Co., Ltd., Oshima Shipbuilding Co., Ltd. and Mitsubishi Corporation – have agreed to acquire a stake in ECOVIX -Engevix Construções Oceânicas S.A. (ECOVIX), a leading Brazilian shipbuilder. A Share Purchase Agreement (SPA) between the Japanese consortium and the Brazilian partners has been signed by the parties. The initiative marks the first investment by a Japanese consortium into a Brazilian shipbuilding business, with the Japanese side providing advanced technology and operating expertise. In the presence of Japanese and Brazilian authorities…

Since the beginning of this year, orders have been placed for 17 floating production systems. The combined value of the fabrication contracts exceeds $16 billion. By year end there will likely be another five to eight contracts awarded and the overall contract value for the year will exceed $20 billion. Stated in terms of conventional ships, fabrication of floating production systems in 2013 will equate to orders for 220 VLCCs, 360 Suezmax tankers or 800 Panamax bulk carriers. In other words, it is a big market. Yet relatively few shipbuilders are active in this sector.

In the last 12 months, GE has won contracts valued at more than $600 million to provide propulsion systems with customers in the pre-salt oilfield expansion off Brazil’s east coast. GE’s systems will power, propel, navigate, position and control drillships and also power and control the drilling process itself. Today, GE is in the process of building systems for 22 of the 29 drillships for the current phase of the Brazilian oil and gas exploration by Brazilian energy corporation Petrobras. “Our advanced power generation, propulsion technology, drilling drives, dynamic positioning (DP) and automation and control systems are being harnessed to improve today’s marine and offshore processes with cleaner…

Wärtsilä’s success in Brazilian drill ship programme continues with latest genset and propulsion order for three new liftboats. This latest in a series of contracts won by Wärtsilä is to supply complete mechanical packages, comprising the generating sets and thrusters, for three new drill ships to be built by Brazilian shipyard ECOVIX. The vessels will be employed in Brazil’s pre-salt offshore oil fields. The three new drill ships will each be powered by six Wärtsilä 32 generating sets and will feature six Wärtsilä underwater de-mountable thrusters.

Konecranes' Goliath gantry crane for Engevix Construções Oceânicas (‘Ecovix’) arrives at Rio Grande do Sul in southern Brazil. With a combination lifting capacity of 2,000 tons and rail span of 210 meters, the crane is the biggest Goliath gantry crane in the world. The crane will be used initially to assemble eight hulls of Floating Production Storage and Offloading (FPSO) ships that will be used for offshore oil production projects. Construction of the crane components began in October 2011, in Finland and South Korea.