OSX: $1.3B Financing for its Açu Shipbuilding Unit
The Brazillian shipbuilding endeavor received a significant financial injection, as OSX Construção Naval entered into contracts with lending agents BNDES – National Development Bank and CEF - Caixa Econômica Federal for financing with resources from the FMM - Merchant Marine Fund, in the approximate amount of $700m each, totaling approximately $1.3b. This $1.3b financing is dedicated to the implementation of the Açu Shipbuilding Unit, the largest shipyard in the Americas, which OSX has been building since July 2011 in the north of the State of Rio de Janeiro…
OSX Appoints New Shipyard Operations Officer
Mr. Danilo Baptista, who currently occupies the position of Executive Manager at OSX´s Açu Shipbuilding Unit (UCN Açu), has been nominated the new Shipyard Operations Officer replacing Mr. Eduardo Costa Vaz Musa. Mr. Baptista is one of the Company’s 52 engineers that have an average of 26 years of experience in naval construction. Mr. Baptista has a degree in Mechanical Engineering from the Federal University of Rio de Janeiro and has a specialization degree in Equipment and Maintenance Engineering and Managerial development by the University of São Paulo. Mr. Baptista began his career in 1978 as an Equipment Engineer at Petrobras where he worked for 33 years in the engineering and international areas of the company.
Supplying Brazil's Booming OSV Market
Local equipment suppliers reap dividends, but there’s room for foreign businesses – if they know how to play. After huge oil finds in recent years, Brazil's need for offshore vessels continues to expand and could double between now and the end of the decade. Brazil's state-run oil company Petrobras wants to extract billions of barrels of oil while also developing its shipbuilding and service industries to create jobs. Meanwhile, Brazil is trying to use locally made vessels and equipment, but foreign companies are benefiting from the nation's oil bonanza too.
OSX Offshore Has Newbuildings in Brazil, Asian Shipyards
OSX, an EBX Group Company of integrated solutions for offshore units and services, received an order from its anchor client OGX Petróleo e Gás for construction and charter of two new Wellhead Platforms, WHP-3 and WHP-4, pursuant to the Strategic Cooperation Agreement entered into by the companies. The two new units will be built by OSX Construção Naval S/A in the Açu Shipbuilding Unit, which is currently being implemented in the northern region of the State of Rio de Janeiro, and are destined to meet OGX’s oil and gas production program.
Compliance With the Minimum Requirement of OSX Shares
The date by which OSX will comply with the 25 percent minimum free float requirement of OSX shares, as set out in the Regulamento de Listagem do Novo Mercado (“Regulation”), was extended for one year, in accordance with the terms of the BM&FBOVESPA notice 067/2012-DP, dated March 30, 2012. OSX is a Brazilian publicly-held corporation which provides equipment and services for the offshore oil and gas industry, being dedicated to supply the Brazilian industry’s growing demand for integrated solutions in three different segments - shipbuilding, E&P unit chartering and O&M services. Compliance with the minimum percentage of outstanding free float shares shall occur in a period of up to one year…
OSX Presents Fourth Quarter Earnings
OSX, a company which provides equipment and services for the offshore oil and gas industry, part of EBX Group, consolidated third quarter 2011 results with important achievements, including the start of the construction of the Açu Shipbuilding Unit (UCN Açu); arrival of FPSO OSX-1 in Rio de Janeiro; agreement for the construction of the FPSO OSX-3; a financing agreement for the construction of FPSO OSX-2 ($850 Million); and Disclosure of its 2011-2015 Execution Plan. OSX finished the fourth quarter with a R$7 million net profit and the full year of 2011. The consolidated cash position of the Company and its subsidiaries on December 31st, 2011 was of R$1.0 billion (R$ 2.2 billion on December 31st, 2010).
OSX to Build 11 Tankers for Kingfish
OSX was hired by Kingfish do Brasil Navegação S/A to build 11 medium range tankers, with 45,000 DWT (Deadweight Tonnage) each, for transportation of oil and clear products. These vessels shall be chartered by Kingfish to Petrobras. The approximate total value of the shipbuilding contract between Kingfish and OSX is US$ 732 million with deliveries expected to take place until 2017, at the Açu Shipbuilding Unit, located in the north of the State of Rio de Janeiro. Kingfish do Brasil is dedicated to providing logistics and marine transportation solutions to the Brazilian oil and gas market, by means of cabotage and long haul shipping. The company was founded by Kingfish Trading in 2009.
OSX Will Construct PLSV for New Client
OSX was hired by Sapura Navegação Marítima S/A for the construction of one PLSV (Pipe-Laying Support Vessel), for a total amount of approximately US$ 263 million, to be built and delivered by OSX at the Açu Shipbuilding Unit, in the north of the State of Rio de Janeiro. A PLSV is used for laying and installing flexible pipelines on the seabed. Sapura is a wholly-owned subsidiary of Seabras Sapura Participações S/A, which is currently wholly owned by SapuraCrest Petroleum Berhad, a company based in Malaysia, where it holds a leading position in engineering and offshore transportation & installation services for the oil and gas industry.
OSX Brasil Announces New Operational Plan
OSX Brasil S.A., announced a new Plan of Activities, to be implemented by its subsidiary OSX Construção Naval S/A, for production of offshore oil and gas E&P equipment at its Açu Shipbuilding Unit ("UCN Açu") up to 2015.OSX Brasil aims to construct the largest shipyard in the Americas, in partnership with Hyundai Heavy Industries, in the city of São João da Barra, Rio de Janeiro state. The company also hopes to satisfy customers' demands for oil and gas exploration and production equipment. UCN Açu has a total area of 3.2 million square meters, of which 2.55 million square meters will be used in the first phase of development. This phase includes the possibility of integrating up to 6 FPSOs and building up to 8 fixed platforms (WHPs) simultaneously…
Brazil Shipbuilding: OSX Receives Installation License
OSX, an EBX Group Company focused on offshore naval industry, received the Installation License for its Shipbuilding Unit, which will be installed at the Açu Superport Industrial Complex, in São João da Barra (RJ). The document was issued on June 22nd, 2011, approximately one year after the beginning of the environmental licensing process. OSX will commence construction of the largest shipyard of the Americas in the month of July, creating approximately 14,000 direct jobs; 10,000 of them during the shipyard´s operational phase and 4,000 during the implementation and construction phase. The Açu Shipbuilding Unit team will benefit from training and professional capacity building provided by the Naval Technology Institute (ITN).
OSX Shipbuilding Announces Finance Deal
OSX Brasil S.A., a Brazilian corporation engaged in the equipment and services sector for the offshore oil and gas industry, by means of integrated operations in shipbuilding, chartering of exploration and production (E&P) units, and operation and maintenance (O&M) services, announces to its shareholders and the market in general that: The Board of Directors of the Merchant Marine Fund (Fundo da Marinha Mercante - FMM) approved the prioritization of financial support for the Açu Shipbuilding Unit ("UCN Açu") project of OSX Construção Naval S.A., pursuant to the resolution published today in the Federal Official Gazette (Diário Oficial da União).