Venezuela, Brazil to Build Oil Tankers

According to reports, Venezuela's state oil company has signed a deal with Brazilian companies, Eisa and Maua Jurong to build ten oil tankers in Venezuela. The joint venture will produce at least eight Panamax tankers, the largest type of vessel capable of navigating the locks of the Panama canal, Petroleos de Venezuela SA, or PDVSA, said in a statement. PDVSA plans to increase its total fleet to 42 ships by 2012, the statement said. Last month, PDVSA announced it had signed a deal with the Brazilian company Andrade Gutierrez to build a dry dock in eastern Venezuela for the construction of oil tankers. Source: AP