BNDES Approves US$112mn in Shipbuilding Financing

Brazil's national development bank BNDES approved US$112mn in loans on Tuesday to help local shipbuilder Aker Promar finance the construction of two oil industry support vessels, the bank said in a statement.

Norwegian group DOF ordered the ships, which require total investment of US$166mn. Brazil's merchant navy fund FMM will guarantee the loan.

The ships provide support services to platforms in Brazil's Campos basin and be ready in 2008.

Aker Promar is a unit of Norwegian shipyard Aker Yard.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours