Brazil to fund shipyard in Venezuela

LR-Fairplay’s Daily Newbuilding News says Brazil’s development bank BNDES has announced that it will pay for building a US$1 billion shipyard in Venezuela. LR-Fairplay said the deal was discussed by Venezuela President Hugo Chavez and Brazilian President Luiz Inacio Lula da Silva during talks in Brasilia. The yard will be built by an as-yet-undetermined Brazilian company, an aide to Lula told the Mercantile Monitor newspaper.