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    Legislation set to boost shipbuilding in Brazil

    News // June 25, 2004
    Fairplay ( reports that legislation is expected to be passed in the next few days by the Brazilian president, Luis Inacio Lula da Silva, which will pave the way for a new wave of shipbuilding contracts in Brazil.

    Fairplay said Medida Provisora 177 has been a big talking point in Brazilian shipping circles - and especially in Rio de Janeiro, where around 25,000 extra jobs in the shipbuilding industry are expected to be created - for some time now and Claudio Decourt, the executive vice-president of Brazilian flag shipowners' group Syndarma, has been in Brasilia for most of this week to oversee the final passage of the legislation into law.

    It has already been passed by the Congress and Senate and is now going direct to President Lula. Before leaving for Brasilia he told Fairplay: "When passed this law will give shipbuilding a tremendous boost in Brazil, with many lines waiting to renew their fleets. It will also give Brazilian flag companies some 75 per cent more money from the Merchant Marine Fund than they were previously receiving."

    Several shipping lines, including Docenave, Norsul and Global, are preparing to build new vessels if the new legislation is passed without too many amendments.

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