SBM Offshore: The Cost of Corruption Rises
Marine engineering group SBM Offshore said a Brazilian investigation into its role in corruption cases had not been resolved and set aside an additional $238 million provision on Monday to cover costs from an unexpected U.S. inquiry. The Dutch company has also been forced to suspend its involvement in tenders with Brazilian oil company Petrobras , a major customer. Shares fell 10 percent to 13.96 euros at 0930 GMT, wiping out gains made this year when investors believed the builder of floating oil and gas platforms had settled the issue.
Grain Trade Boosts Brazil's Itaqui Port
Brazil's Itaqui port, the country's closest deepwater gateway to the Panama Canal, has projected a rise in 2017 shipping volumes thanks to a record grain harvest and development of a new northern farming frontier. Most of Itaqui's export cargo arrives by train instead of roads. It is the deepest public port in Brazil, and its travel time to Europe and North America is seven days shorter than from rivals in the South. Itaqui can handle minerals, grains, fertilizers, fuel and woodpulp consignments.
Inspection Training for Cleaner Shipping
Inspection training for Port State Control Officers in South and Central America is underway at an International Maritime Organization (IMO) workshop in Buenos Aires, Argentina (6-8 November). There are participants from: Argentina, Brazil, Chile, Colombia, Ecuador, Mexico, Panama and Uruguay. Port State Control is the process, supported by IMO, by which officials in ports can board visiting foreign-flagged vessels to verify compliance with international safety and pollution standards.
Brazil Delays Estimate for First Oil Cargo from Libra
Brazil on Wednesday pushed back its forecast for a first oil shipment from its promising offshore Libra prospect to the first quarter of next year, months after its previously projected October 2017 estimate made in May. Hercules Tadeu F. da Silva, contract management director at Brazil's state-run Pre-Sal Petroleo SA, a company created to help guide development of Libra, declined to explain the cause of the delay. (Reporting by Simon Webb)
Brazil: Exports to Exceed Imports in 2014
Brazil will export more crude oil in 2014 than it will import, Magda Chambriard, director general of Brazil's oil regulator, the ANP, said on Tuesday. If her prediction comes true, the oil-trade surplus will be Brazil's first since 2012, when the country exported $20.3 billion of crude oil and imported $13.4 billion, according to Brazil's commerce and trade ministry. Brazil had an oil trade deficit in 2013, importing $16.3 billion of crude oil and exporting $13 billion, the ministry said on its website. As most of Brazil's oil output is heavy crude oil and its refineries operate best with light crude, Brazil exports domestic oil to buy lighter, imported grades.
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.
U.S., Brazil Sign Maritime Agreement
U.S. ship operators will gain greater access to Brazil’s government cargo business while Brazil’s carriers seeking access to U.S. markets will be assured equal treatment, under an agreement signed today by U.S. Transportation Secretary Norman Y. Mineta and Brazilian Ambassador Roberto Abdenur in Washington, D.C. “Free trade helps everyone – shippers, carriers and most of all consumers,” Secretary Mineta said. The new agreement requires both sides to provide equal treatment for the other’s carriers in maritime-related services and facilities, including shipping taxes. It also provides unlimited access for U.S.-flag carriers to government-controlled cargoes whose shipments are arranged by the Brazilian government…
Petrobras to Unveil Offshore Oil, Gas Plan
Petrobras plans to announce oil and natural gas exploration and production plans for the Santos Basin today in Santos, Brazil, home to Latin America's largest port. The Santos Basin contains Brazil's largest proven gas reserves. Brazil gets about half of its natural gas, 24 million cubic meters a day, from Bolivia where unrest has threatened supplies and new taxes have raised costs. A shortage of natural gas in Brazil is already forcing companies to consider expansion abroad. Petrobras' $56 billion plan to almost double oil and gas output by 2010 includes provisions to boost Brazil's gas-fired electricity generation capacity. If Brazil fails to expand generation capacity, it faces economic slowdown and energy shortages as early as 2008, according to Bloomberg. (Source: Bloomberg)
Japan Loans Petrobras $500m to Build Ship Platforms
Brazil's state-controlled oil company Petrobras signed on Friday a $500 million loan from Japan to build eight ship platforms for the oil industry, as part of the visit of Japanese Prime Minister Shinzo Abe to Brazil. Japan will also help Brazil's state development bank BNDES promote investment by small and medium-sized companies in Brazil through its bank for international cooperation, JBIC, according to another deal signed in the Brazilian presidential palace. (Reporting by Anthony Boadle; Writing by Silvio Cascione; Editing by Meredith Mazzilli)
Challenges in Brazil Could Benefit Tanker Markets
Brazil stays in the spotlight - Tanker Research & Consulting department at Poten & Partners takes a look at the tanker market in the country. The Rio Olympics were successfully concluded on August 21. Ten days later, on Wednesday, August 31, Brazil’s Senate voted 61-20 to remove Dilma Rousseff as president of the most populous country in Latin America. Ms. Rousseff was accused of using illegal bookkeeping maneuvers to cover up a growing budget deficit. Interim president (and former vice president) Michel Temer will finish out her term, which runs through the end of 2018.
Brazil To Dispense $100M To Shipping Companies
Brazil's government will reportedly divide $100 million in aid among the country's shipping companies to help Brazil's merchant shipping companies pay off commercial debts and moneys owed to Brazil's National Development Bank (BNDES).
ABS To Develop Brazil's Offshore Operational Safety Regulations
ABS Group Inc. was chosen by Brazil's Agência Nacional do Petróleo (ANP) to develop the country's "Operational Safety Regulation for Exploration and Production Operations." The contract calls for the development of a comprehensive regulatory model to address all aspects of operational safety throughout field life for Brazil's offshore exploration and production, says Dr. Henrique Paula, vice president, South America, for ABS Group. "Our experience in researching and drafting Brazil's offshore regulatory model will place us in a knowledgeable position to assist operators worldwide that are eager to participate in Brazil's burgeoning deepwater market," said Paula. A final report on Brazil's offshore regulations, adds Paula, is expected to be in place before year-end.
Vacon Opens Office in Brazil
The AC drives manufacturer Vacon has inaugurated its office in São Paulo, Brazil to support its customers in Brazil and South America. With growing energy consumption, Brazil and South America in general are lucrative markets for energy-saving Vacon AC drives. Brazil is one of the world's major producers of sugar and ethanol, and it is estimated that 60 new sugar cane plants will be running by 2010. Brazil is the 10th largest energy consumer in the world and the largest in South America. Vacon variable speed AC drives bring considerable energy savings and improve process control. These two major benefits provide a huge market potential in South American countries, where the energy infrastructure is being built up and blackouts are frequent.
Brazil Reconsiders Shelved LNG Plan
Brazil’s state oil company Petrobras may revive a shelved liquefied natural gas (LNG) imports project for the northeast due to disappointment with soaring costs of its planned Gasene natural gas pipeline, according to a Reuters report. A regasification plant could be an alternative to Gasene, or be used jointly with the pipeline as natural gas demand in Latin America’s largest country is soaring. Gasene is designed to connect Brazil’s southeastern and northeastern gas networks. Its initial estimated cost of over $1.1 billion went above $2 billion after Brazil brought in Chinese partner Sinopec earlier this year. Demand for natural gas is growing rapidly at over 20 percent a year in Brazil due to increasing industrial use and back-up thermoelectric plants.
ISS Brazil Marks Ten Year Anniversary
Inchcape Shipping Services (ISS) the world’s leading maritime services provider, has celebrated the tenth anniversary of its operation, ISS Brazil, with a special event for customers and staff as business continues to expand. After ten years of development, ISS Brazil now has a total of nine offices across Brazil including Rio de Janeiro, Belem, Sao Luis, Macae, Angra dos Reis, Fortaleza, Manaus, Vitoria and Santos, and over 100 employees. The company has also expanded its services into tankers, offshore, break-bulk, liquid bulk, dry bulk, crew logistics and the oil and gas sectors. Employees attending the anniversary event with customers included the ISS Brazil team, regional management and Claus Hyldager, Chief Executive Officer of ISS.
Diesel Electric Propulsion – CAT Starts Brazil Genset Production
Caterpillar says their 3500C Diesel Electric Propulsion (DEP) generator sets have entered full production at the Piracicaba, Sao Paulo manufacturing facility, delivering on a commitment to offer superior Cat power solutions products to the burgeoning Brazilian offshore market. Within the past year, the company has achieved significant milestones in Brazil, most recently announcing the RBNA Classification Society Certification of the 3500C generator sets to meet local content regulations. “The demand for Cat power solutions in Brazil has paralleled the exponential growth in the Brazilian offshore market,” noted Gregg Macdonald, Brazil 3500 Program Manager. The 214,000 square-meter Piracicaba facility is Caterpillar’s second facility in Brazil and currently employs over 5,800 people.
W&O Expands Team at New Brazil Office
W&O expanded its team in the newly opened office in Brazil. The two new positions, a Commercial Director and Customer Services Delivery Manager, are focused on business development and customer service to expand W&O’s footprint in the Brazilian maritime industry and throughout South America. “Establishing commercial operations in Brazil provides tremendous opportunity for us, yet it requires a tremendous amount of international coordination and a high level of customer service to ensure we are successful,” said Michael Hume, President and CEO of W&O.
Fincantieri to Delist Vard
Italian shipbuilder Fincantieri has proposed to seek the privatization of Vard Holdings via a voluntary delisting from the Singapore Exchange Securities Trading Limited (SGX-ST). Fincantieri, which holds a 79.34 per cent stake in Vard through a subsidiary Fincantieri Oil & Gas, is now offering 25 Singapore cent per for every share it does not own, one cent more than its previous offer, which closed in January. "Under the Exit Offer, Fincantieri O&G will offer the shareholders of Vard SGD 0.25 in cash for each Vard share tendered in acceptance of the Exit Offer…
Keppel Wins $809m Contract from Sete Brasil
Keppel Offshore & Marine Ltd (Keppel O&M), through its subsidiary Fernvale Pte. Ltd., has secured a contract worth approximately $809m from Urca Drilling B.V., a subsidiary of Sete Brasil Participações S.A. (Sete Brasil), for the design and construction of a semisubmersible (semi) drilling rig based on Keppel's proprietary DSSTM 38E design. The DSSTM 38E is an enhancement of Keppel's proven fifth generation deepwater solution, the DSSTM 38. With improved capability and operability, it is designed to meet the stringent requirements of the deepwater "Golden Triangle" region, comprising Brazil, Africa and the Gulf of Mexico. Scheduled for delivery in 4Q 2015, the rig is intended to support the exploration of Brazil's estimated 50 billion barrels of deep-sea oil and gas reserves1.
Noble Denton Moves to Larger Facility, Brazil
Noble Denton, global offshore engineering and marine services company, announced its move into a new office facility in Rio de Janeiro, Brazil. The new 850 square meter facility is located at Rua Araujo Porto Alegre, 36, 5th Floor, in downtown Rio. Noble Denton currently employs 28 in Brazil, and the company has aggressive plans for growth. It expects to employ 40 to 45 people by the end of 2009, and to reach 80 full-time employees in the next three years. "Noble Denton has been growing rapidly in Brazil over the past few years, and this office move is a part of our plan to increase our presence in Latin America,” said Andrew Theophanatos, Brazil Country Manager, Noble Denton.
STX Norway Offshore to Build AHTS in Brazil
STX Norway Offshore has through its subsidiary STX Brazil Offshore entered into a new contract for the building of one Anchor Handling Tug Supply vessel for Norskan Offshore in Brazil. The vessel is scheduled for delivery at the end of 2013. This vessel is the third in a series of new AH 11 designs from STX Norway Offshore Design. We currently have a total of seven vessels under construction for DOF in Brazil. Norskan Offshore is a subsidiary of DOF ASA. The vessel is designed by STX Norway Offshore Design in Ålesund, Norway, and will be built at STX Brazil Offshore in Niteroi, Brazil.
Astrium Opens New Brazil Office
Astrium Services, a global provider of satellite enabled telecom solutions, has opened a new office in Rio de Janeiro. The new office will focus on sales and support for service providers in the region. It will also be an important link for Norwegian customers of Marlink – Astrium Services’ direct sales channel – many of whom have significant operations in Brazil. The new office is run by newly appointed Sales Director and Country Manager for Brazil, Fabio Riccetto. With over 20 years’ experience in telecom sales and marketing, Riccetto provides the much needed local connection in Brazil. Under Riccetto, the new office will be responsible for direct and indirect sales and will support current and prospective Service Providers and End Users in Brazil.
ICBC Financial Leasing Purchase 2 CIMC Raffles Drilling Rigs
ICBC Financial Leasing Company Limited signed a leasing project with Schahin of two ultra-deepwater drilling rigs during China-Brazil Business Council-Annual Meeting 2014 on 17th July 2014. The contract values $1.08bn and eventually serves for Petrobras. CIMC Raffles played the role of EPC in the two semisubmersible drilling rigs building and delivered them in November 2010 and April 2011, which performed in a good condition in Brazil. The cooperation project signed by ICBC Financial…