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    Brazil releases funds for OSVs

    News // May 12, 2006

    LR-Fairplay's Daily Newbuilding News reports that the Brazilian National Development Bank BNDES has approved loans of US$77.7 million for the construction of two offshore supply vessels.

    LR-Fairplay said Aker Promar yard in Rio de Janeiro will receive US$35.9 million for the construction of one offshore vessel, while ship owner Skannor Offshore will receive US$41.8 million providing it builds it in a Brazilian shipyard. Aker Promar is the yard most likely to be chosen, sources in Rio told Fairplay.

    The BNDES financing will cover about three-quarters of the US$49.8 million cost of the Aker Promar offshore contract; the remainder of the cash will come from Aker Promarís own financing, said LR-Fairplay


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