BNDES to Fund CBO Shipbuilding Programme

24 June 2010 (Last Updated June 24th, 2010 18:30)

The Brazilian Development Bank has signed a contract with Companhia Brasileira de Offshore to provide a BRL1.2bn ($750m) loan to fund a programme to build 19 platform supply vessels (PSVs). The PSVs will be built under the Brazilian Government's Merchant Marine Fund and 17 of the 3,500dwt

The Brazilian Development Bank has signed a contract with Companhia Brasileira de Offshore to provide a BRL1.2bn ($750m) loan to fund a programme to build 19 platform supply vessels (PSVs).

The PSVs will be built under the Brazilian Government’s Merchant Marine Fund and 17 of the 3,500dwt vessels will be chartered to Petrobras, according to asiasis.com.

The funding is expected to improve the capacity of Brazil’s shipyards and to revitalise the local shipbuilding sector.