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    Petrobras to hold reverse auction for blocked vessels

    News // September 17, 2015

    Broker Nor-Ocean Offshore says Brazil's state oil company, Petrobras, is expected to hold a 'reverse auction' on a number of ‘blocked’ vessels.

    "We have reason to believe that Petrobras will commence a reverse auction for international (non-Brazilian flagged) PSVs that have their CAAs blocked, or need to get their CAA renewed in the latter part of 2015," said the broker.

    "The most expensive vessels will have a high risk of having their contract terminated."

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