DESSC: Establishing business in Brazil
(Thomson Reuters ONE) - Deep Sea Supply has entered into a contract to build a PlatformSupply Vessel (PSV) at STX Brazil Offshore SA in Rio. In Brazil, thedemand for offshore supply vessels is large and expected to growconsiderably in the years to come. Offshore supply vessels built inBrazil are given priority ahead of international vessels whentendering for long term employment in Brazil. This should providegood opportunities for securing long term charters for the newvessel.The vessel is a large Platform Supply Vessel of 4,700 dwt of designSTX Europe design PSV 09 CD built for Brazilian pre-salt explorationchallenges. The STX Europe yard in Rio is one of the few yards inBrazil with a proven track record in building offshore supplyvessels, and Deep Sea Supply has secured the earliest availabledelivery slot for this type of vessel at the yard.A further advantage to Deep Sea Supply in constructing offshoresupply vessels in Brazil is the access to the local Brazilian marketfor 3-4 of its existing international vessels during constructionperiod of the vessel. Such imported vessels can compete on localterms, commencing second half 2010.Deep Sea Supply has as a consequence of the above mentionednewbuilding contract and market opportunities, established aBrazilian subsidiary, Deep Sea Supply Navegação Marítima Ltda. Thecompany plans to gradually increase its presence in the Brazilianmarket from second half of 2010 with an ambition to have an operationcovering 6-8 ships in Brazil, including ships from its internationalfleet.The newbuild is scheduled for delivery to Deep Sea Supply early 2012and will be financed with a combination of cash and a Brazilianfinancing scheme.This contract brings Deep Sea Supply's fleet to a total of 29Offshore Supply vessels, including newbuildings.Deep Sea Supply's Management's CEO, Mr. Odd Brevik says in a commentto the deal:"We are very pleased with having reached an agreement with STX forthis early delivery slot that will give us a head start in one of themost interesting markets for offshore supply vessels. We areconfident that increased presence in this market will giveopportunities for long term employment which will benefit our fleetutilization and cash flow in the years to come."7 October 2009Limassol, CyprusThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 07.10.2009 - 07:00 Uhr
Sprache: Deutsch
News-ID 6649
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