Eight Contracts for New STX Shipyard in Brazil

On July 9, 2010 Estaleiro Promar S.A. signed eight contracts to build LPG Carriers for Transpetro, the shipping arm of the Brazilian oil giant Petrobras. The contracts amounts $536m, comprising the construction of two different types of LPG Carriers: fully pressurized with cargo capacity of 7.000 m3 (4 units) and 4.000 m3 (2 units) and semi-refrigerated with cargo capacity of 12.000 m3 (2 units).

These vessels are part of the PROMEF 2, the second phase of the ambitious Transpetro's Fleet Modernization and Expansion Program and are scheduled to be delivered within Q3 2013 to Q4 2015.

STX Norway Offshore is developing the new shipyard in Brazil together with its Brazilian long-time partner PJMR Empreendimentos Ltda. STX Norway Offshore AS own 50.5% of Estaileiro Promar S.A. Estaleiro Promar and Transpetro are jointly applying to the FMM- Brazilian Merchant Marine Fund to finance the project.