The Market
There couldn’t be a better time than now for the Brazilian shipbuilding industry. Transpetro, the Petrobras shipping subsidiary, has recently ordered 26 tankers in local yards and has invited bids for contracting a further 22 units. The company’s intention is to have the contracts wound up at the start of 2009 and the vessels operating by 2015.
On the other hand, with the recent pre-salt discoveries, Petrobras will need to increase its volume of investments to obtain increased production. The company has estimated investments of US$ 112.7 billion in exploration up to 2012, but this amount will shortly be revised. Mention has already been made of reserves up to 80 billion barrels below the salt layer.
According to Petrobras, investments of US$ 40 billion will have to be made in the next few years just for the vessels needed for exploration of new fields in the pre-salt layer.
Recently, Petrobras announced the chartering of 12 drill rigs and invitation for bids for contracting 146 offshore supply vessels for work in Brazil. Another 28 drill rigs will have to be ordered from Brazilian yards for startup of operations by 2017.
Currently, Petrobras has five oil production platforms under construction. Another five orders are at the bidding stage and should also be ordered from Brazilian yards. But Brazilian shipbuilding is not confined to Petrobras orders.
As agricultural activities develop, orders for river transport vessels are on the upswing. And the increase in foreign trade has also contributed to a healthy order-book for port services vessels.
To keep up with so many orders, the Brazilian industries for naval equipment, offshore supply vessels and platforms will have to increase its production. Another measure that will certainly be needed is the formation of joint ventures with foreign companies. In recent years it has been noted that foreign manufacturers have showed renewed interest in the Brazilian naval and offshore construction market.