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    Petrobras launches fleet renewal plan - to charter 18 newbuilds

    News // December 5, 2003
    Seabrokers has provided details of Petrobras' fleet renewal plan, which was announced by its Board of Directors last month.

    The plan calls for the Brazilian oil company to charter 18 newbuildings and 21upgraded vessels for periods of eight and four years respectively.

    The newbuilds vessels would generate revenues of roughly US$290 million to thelocal shipbuilding industry.

    The upgraded supply boats would cost US$50 million.

    In 1999 Petrobras launched its first renewal plan, identifying a need for 22 support vessels, of which six are already operational. Ten more will be delivered in 2004, and the balance of six supply boats will be sailing in 2005 and 2006.

    Currently 145 vessels provide offshore support to Petrobras operations.

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