Japan’s MES sets up FPSO chartering division

Japan’s Mitsui Engineering and Shipbuilding (MES) has established a floating, production, storage and offloading (FPSO) business section by acquiring MODEC’s FPSO chartering company that operates offshore Brazil. 

According to MES, effective February 1, this new section will handle all operations and management related to MES’ participation in FPSO chartering-related businesses.

The FPSO chartering section, that will operate within MES’ Ocean Business Promotion Department, is being established as a part of the company’s Mid-Term Business Plan 2014.

One of the core basic policies of MES’ business plan, MES said, is the expansion of business engagement and related-service businesses. As part of this strategy, MES acquired shares of Cernambi Norte MV26 B.V., an FPSO chartering business company that operates in the Iracema Norte field of the pre-salt layer off the coast of Brazil, from MODEC. With this transaction, MES will engage in the chartering business.

MES says it will continue to work toward business engagement and the expansion of related service businesses and aggressively invest in businesses conducting FPSO chartering.

“We will further enhance our cooperation with MODEC as we continue to focus on the Ocean Business Promotion Department,” concluded MES.

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