BNDES Approves US$200mn Loan for Support Vessels

Brazil's national development bank BNDES has approved a US$200mn loan to Dofcon Navegacao to acquire two vessels for oil production activities, the bank said in a statement.

Shipyard Aker Promar in Rio de Janeiro will build the vessels, which will support oil platform construction, maintenance and inspection work.

BNDES will finance 90% of the amount to Dofcon, a subsidiary of Norway's DOF Group.

DOF Group owns 22 platform supply vessels, nine anchor-handling tug and supply ships and 25 multipurpose supply vessels (MPSV).

DOF in Brazil operates four support vessels for Brazil's federal energy company Petrobras (NYSE:PBR).

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