Japanese Shipbuilders Take Stake in Brazil's ECOVIX

MarineLink.com
Tuesday, October 22, 2013

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, the Share Purchase Agreement was signed in Tokyo by representatives of six new partners - ECOVIX, MHI, Imabari Shipbuilding, Namura Shipbuilding, Oshima Shipbuilding and Mitsubishi Corporation.


ECOVIX is controlled by the JACKSON Group, the holding company that consolidates Brazil's leading engineering firm ENGEVIX Engenharia, clean energy generation DESENVIX and infrastructure management INFRAVIX.  ECOVIX was established in 2010 to build PETROBRAS initial eight FPSO's – Floating, Production, Storage and Offloading hulls in support of Brazil's oil exploitation program at the pre-salt layer.

In August 2012, ECOVIX was awarded contracts to supply engineering, procurement and construction services of three new drill ships for SETE Brasil, a major asset owner in the oil and gas industry, engaged into Brazil's pre-salt offshore exploitation program.


The pre-salt layer oil reserves represent the largest oil discovery of past decades and are a technological challenge which PETROBRAS has managed to successfully overcome. Brazil is expecting to achieve not only self-sufficiency but also to be a significant oil exporter in the coming years. Thus, the exploration and production from these reserves is an important part of Brazilian plans for the next two decades.


The presence of four important Japanese shipbuilders, through capital participation, will provide ECOVIX with outstanding support to contribute decisively to the nation's effort to meet increasing demands for quality and timing in the construction of  key equipment and also an ever increasing demand for safer oil production from offshore fields.


 

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Former MSC Manager Sentenced on Bribes Charges

Former Afloat Programs Manager at the United States Navy Military Sealift Command (MSC), Kenny E. Toy, was sentenced to 96 months in prison for receiving bribes, the U.

Vale Profit Falls Amidst Record Output

Brazilian miner Vale SA posted a sharp decline in profit from the previous quarter as lower iron ore prices undermined record production of the steel-making ingredient.

Kurdish Crude Lightered, Destination Unknown

Part of a Kurdish oil cargo has been offloaded from a Greek-managed tanker into another tanker in the South China Sea, but mystery surrounds the identity of the

Shipbuilding

Scottish Sea Farms Takes New Vessel Delivery

Scottish Salmon Farms has taken delivery of its latest vessel – powered by twin Doosan V158TIH main engines supplied by WaterMota.   Designed by consultant naval

Fincantieri to Build Third New Princess Cruises Ship

Fincantieri says it has signed an agreement with Carnival Corp. to build  the new cruise ship for its Princess Cruises brand at a cost of about 600 million euros.

ATB Barge Project for Murray & Associates

Murray & Associates, LLC has been commissioned to deliver a comprehensive design package for an 185,000 BBL Chemical Tank Barge new construction project. The

Offshore

Fugro Achieves Innovation through Integration

When Aberdeen-based Diamond Offshore wanted to add new functionality to the existing helideck monitoring system on the Ocean Guardian drilling rig in the North Sea,

BMT ARGOSS Awarded OHSAS 18001

BMT ARGOSS, an operating company of BMT Group Ltd. has been awarded the universally recognized standard for occupational health and safety, BS OHSAS 18001. BMT ARGOSS,

Transocean Prices Initial Public Offering

Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., has announced  the pricing of its initial public offering of 17,

Finance

Kirby Reports Record Q2 2014

Record 2014 second quarter earnings per share of $1.31 compared with $1.11 in the 2013 second quarter, which included a $0.07 benefit due to the reduction of the United earnout liability.

UK Oil Imports Exceed Exports for First Time in 30 Years

Britain imported more oil products than it exported last year for the first time in 30 years, an official report shows, and analysts say the country is likely to

Transocean Prices Initial Public Offering

Transocean Partners LLC, a Marshall Islands limited liability company formed by Transocean Ltd., has announced  the pricing of its initial public offering of 17,

Mergers & Acquisitions

Rio Tinto Pulls Plug on Mozambique Coal Venture

Rio Tinto has agreed to sell coal assets it bought through a $4 billion acquisition of Riversdale in 2011 for just $50 million to an Indian joint venture, ending

Rohr Dredge Continues European Expansion

Rohr International Dredge Holdings, Inc. announced that it acquired Eurl Rohr France, including its current backlog, inventory and all associated intellectual property (IPR), on July 23, 2014.

Total Sells ts Coal Mining Assets to Exxaro

Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affiliate in South Africa.

 
 
Maritime Contracts Maritime Standards Naval Architecture Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1434 sec (7 req/sec)