Brazil: Wilson Sons to Build 4 PSVs for Petrobras

March 13, 2012

Wilson Sons Limited has, through Wilson Sons Ultratug Offshore, in which Wilson, Sons has 50% participation, signed a contract with Petrobras for the construction and operation of 4 (four) vessels type PSV 4500 (Platform Supply Vessel).

This contract is part of the Petrobras Program for the Renovation of the Offshore Support Fleet (“Prorefam”).

The Company intends to finance the 4 vessels through the Marine Merchant Fund (FMM). The vessels will be built at the Wilson, Sons Shipyard facilities in Guarujá, São Paulo, and are expected to be delivered by 2015. The expected fleet includes more than 30 joint venture-owned OSVs (Offshore Support Vessels) by 2017.

The company’s strategy is to build an adequate mix of vessels to attend the demand from national and international oil companies operating in Brazil. According to Petrobras strategic plan, it will require nearly 300 new chartered OSV’s by 2020 to fulfill their exploration and production of pre-salt and post-salt reserves.

Wilson, Sons, through its subsidiaries, is one of Brazil’s largest providers of integrated port and maritime logistics and supply chain solutions. With a business track record of 175 years, the Company has developed an extensive national network and provides a comprehensive set of services related to domestic and international trade, as well as to the oil and gas industry. Its principal operating activities are divided into the following lines of business: Port Terminals, Towage, Logistics, Shipping Agency, Offshore, and Shipyards.

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Source: Wilson Sons Limited, March 13, 2012