Brazil: Transpetro Decides to Fine EAS for Delayed Delivery of ‘Joao Candido’

Transpetro has decided to fine the Atlântico Sul Shipyard (EAS) for the delay in the delivery of the João Cândido oil tanker. The value of the fine is being evaluated in accordance with the clauses of the purchase contract for the ship, which is part of an order of 10 Suezmax vessels made to the shipyard.

Ordered under the Transpetro Fleet Modernization and Expansion Program (Promef), the João Cândido began its first voyage on May 29, after the delivery ceremony at the shipyard. In its first operation, the ship took petroleum from the Bacia de Campos to the Almirante Barroso Terminal (Tebar) in São Sebastião (SP).

274 meters long and with the capacity to transport 1 million barrels – almost half the national daily production – the João Cândido reached an index of national content of 70%, higher than the 65% stipulated in the first phase of the Promef.

The João Cândido is the second ship from the Promef to enter into operation. The first, the Celso Furtado, was delivered to Transpetro in November 2011 by the Mauá Shipyard in Rio de Janeiro. The next vessel, to be delivered in June, will be the product tanker Sérgio Buarque de Holanda, also built at Mauá, which successfully completed its seal trials on May 16th.

Besides the Sérgio Buarque de Holanda, the Rômulo Almeida and José product tankers are in the finishing stages at the same shipyard. The Promef has already ordered 49 ships, with an investment of R$ 10.8 billion.

The delivery of the João Cândido is another proof of the vitality of the Promef, which has boosted the reconstruction of the Brazilian naval industry after a crisis lasting decades. Currently, Brazil has the fourth largest portfolio of oil tankers worldwide. Brazilian shipyards, which had less than two thousand workers at the turn of the century, now employs more than 60 thousand people.

“We are leaving the phase of inactivity. We are now moving into the phase of productivity. We will complete the third pillar of this program, because we have already finished the two first phases: producing new ships in Brazil, and reaching 65% nationalization. We now have to work together to ensure productivity and sustainability. That’s how we will place the Brazilian naval industry in the global scenario”, Transpetro CEO Sergio Machado stated in his speech.

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Source: Transpetro, June 11, 2012