Brazil’s Merchant Marine Fund (FMM) has approved R$7 billion in financing priorities across 98 projects, primarily targeting vessel construction and modernization. Notably, over R$3 billion will support PSVs and RSVs, while R$1.1 billion is earmarked for the concession of the access channel to the Port of Paranaguá, marking the first infrastructure concession of its kind in the Brazilian port sector.
Meanwhile, in a historic global move, the Shanghai Stock Exchange has given the green light for the merger of China’s two major state-owned shipbuilders, CSSC and CSIC. Valued at US$16 billion, the deal creates the world’s largest shipbuilding conglomerate with combined assets of approximately US$56 billion. The new CSSC will play a dominant role in shaping the future of the global maritime industry.
*Source: “Portos e Navios”
Tag: WSB
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Strategic Developments in Maritime Financing and Shipbuilding
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Offhsore moves: Chartering & strategy
Chartering & Strategy
Subsea7, through the Subsea Integration Alliance (SIA), has secured a contract with Equinor to conduct concept studies for Phase 2 of the Bacalhau field in Brazil’s pre-salt Santos Basin.
The strategic alliance between Subsea7 and SLB OneSubsea brings together teams from the UK, Norway and Brazil.
Phase 1, expected to start production later this year, is already considered a technological benchmark. The Bacalhau FPSO, featuring MODEC’s next-generation M350 hull, will have a processing capacity of 220,000 barrels per day and connect 19 subsea wells in ultra-deep waters.
With estimated recoverable reserves exceeding 2 billion barrels of oil equivalent, Bacalhau is operated by Equinor in partnership with ExxonMobil, Petrogal Brasil S.A. and PPSA (Pré-Sal Petróleo S/A).
Meanwhile, Solstad Offshore has officially signed a long-term contract with Petrobras for the AHTS vessel Normand Turquesa.
The contract is scheduled to begin in February 2026 and will run for four years, with an estimated gross value of approximately USD 84 million. This agreement follows a series of recent awards between Solstad and Petrobras, reinforcing the vessel’s owners strong positioning in Brazil’s deepwater support segment.
To know more, visit: cms.oneenergynews.com or contact us: Comercial@cms.oneenergynews.com -
Market News: FPSO, investments and Subsea projects
This week, Brazil’s energy sector has taken another decisive step toward growth and diversification with key announcements involving upstream, downstream and subsea segments.
McDermott has signed a “sizeable” contract with BRAVA covering the transportation and installation of flexible pipelines, umbilical and subsea equipment for new wells in the Papa-Terra and Atlanta fields. The agreement also includes pre-commissioning and onshore support services. The contract value ranges between $1 million and $50 million.
Meanwhile, Siemens and Seatrium have been selected to supply the compression systems for Petrobras’ FPSOs P-84 and P-85. The two units, central to Petrobras’ pre-salt expansion strategy, are expected to enter production by 2030. The total value of the supply contract is approximately R$ 2 billion.
Last Friday (4), Petrobras announced a R$ 33 billion investment plan focused on refining and petrochemicals at the Duque de Caxias Refinery (Reduc), in partnership with Braskem. The initiative revives major projects in the downstream segment and includes pilot production of Diesel R and Sustainable Aviation Fuel (SAF), improved integration with the Boaventura Energy Complex and expanded investment in workforce development.
Adding to this, Petrobras is now seeking to attract Chinese investment to support its naval and logistics infrastructure. A memorandum of understanding (MOU) signed in Rio de Janeiro brings together major Chinese firms such as COSCO SHIPPING, Offshore Oil Engineering Co. and China State Shipbuilding, along with Brazilian shipyards including
Estaleiro Mauá S/A, Enseada, Estaleiro Atlântico Sul and Estaleiro EBR (Estaleiros do Brasil Ltda), Petrobras and Transpetro will act as anchor clients with plans to commission 52 vessels and five FPSOs by 2026. The partnership aims to inject capital and technology into Brazil’s shipbuilding industry, aligning with government efforts to reindustrialize the sector after a long period of decline. -
WSB tips – Open tenders & more
WSB Advisors is pleased to provide an update on the long-term offshore tenders currently open for submission. Several key Petrobras opportunities have updated deadlines, reflecting ongoing adjustments in Brazil’s offshore contracting environment.
Below, the latest updates:
• Petrobras SEP – Up to 1x PSV MUF
Opportunity 7004436596 – New deadline: July 8th, 2025
• Petrobras SEP – Up to 1x PSV GC
Opportunity 7004436597 – New deadline: July 11th, 2025
• Petrobras – Up to 17x PSVs
Opportunity 7004439824 – New deadline: July 11th, 2025
• Petrobras – Up to 3x SOVs
Opportunity 7004460732 – New deadline: July 18th, 2025
• Petrobras – SDSVs
Opportunity 7004370497 – New deadline: July 31st, 2025
• Petrobras FPSO SEAP-I & SEAP-II (BOT) Opportunity 7004338481 – New deadline: September 30th, 2025
What else is happening?
• Petrobras RSV auction has reached its final classification stage. -
Petrobras and Transpetro: strategic meetings
Strategic Meetings Drive Naval Industry Partnerships
Petrobras and its subsidiary Transpetro are leading a series of strategic meetings this week between Brazilian and Chinese shipyards. The agenda, which has already passed through Rio de Janeiro and Pernambuco, now moves on to Bahia and Rio Grande do Sul, aiming to foster stronger industrial partnerships in Brazil’s shipbuilding sector.
Other move
This Friday (July 4), President Lula will take part in a ceremony marking the resumption of investments in refining and petrochemicals in the state of Rio de Janeiro. The event, held at the Reduc refinery in Duque de Caxias, will feature Petrobras CEO Magda Chambriard and other government officials. The announcement is expected to confirm more than R$ 33 billion in investments. Updates on renewable fuels, energy integration, and workforce development initiatives will also be shared. -
Offshore Database: WSB.One
Datamatters –
Paulo Cantergiani, Market Intelligence Intern at WSB Advisors, conducted a comparative study of Brazil’s offshore support vessels (OSV) fleet, analyzing May 2024 against the same period this year. Drawing from exclusive data within WSB. One, our database, the study reveals important trends shaping the sector’s evolving dynamics.
AHTS vessels recorded the sharpest decline, dropping from 53 to 50 units, a 5.7% contraction. The reduction reflects a temporary gap in chartering activity, largely linked to the timing of Petrobras tenders currently being finalized.
Meanwhile, the RSV segment remained stable, with 28 active units throughout the period, reinforcing the steady demand for subsea inspection and maintenance services critical to offshore infrastructure integrity.
PSV numbers also saw a slight reduction, from 129 units in May 2024 to 122 in May 2025. a 5.4% contraction.
The findings highlight the differentiated behavior of each OSV segment and reinforce the value of real-time and data-driven decision-making. In a volatile market, access to accurate and granular fleet information remains a key asset for anticipating shifts and aligning commercial strategies.
More details in the infographic below or by subscribing to our WSB. One database.
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WSB tips – Open tenders & more
Dear All,
WSB is pleased to provide an update on the current long-term tenders that are open to offer.
Open tenders:
What has changed?
- Petrobras Acquisition of 4x Barges and 4x Pushers TRANSPETRO Vessels: Opportunity 7004461915 new deadline July 4th, 2025;
- Petrobras Up to 3 SOVs: Opportunity 7004460732 new deadline July 4th, 2025;
- Petrobras Acquisition of 8x GLP TRANSPETRO Vessels: Opportunity 7004344317 new deadline August 20th, 2025.
What else is happening?
- ECB lands 53-month UMS ES deal with Petrobras, entering Espírito Santo’s offshore market for the first time.
- Normand Flower secured a 4-year plus options contract with Petrobras starting Q1,2026.
- Equinor acquires 100% of Block S-M-1617, expanding in Brazil’s Santos Basin.
- ECB seals EPRD Marlim contract with Petrobras, a 5-year offshore decommissioning project focused on eco-driven operations.
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Energy Solutions are ON!
Petrobras announces the contracting of its first fully electric FPSOs. The P-84 and P-85 units, developed in partnership with ABB and Seatrium, will be deployed in the Atapu and Sépia pre-salt fields. Each platform will have the capacity to produce up to 225,000 barrels per day, but the main highlight is the full electrification of operations, expected to reduce greenhouse gas emission intensity by 30% per barrel produced.The package includes advanced automation and control systems, with part of the equipment to be manufactured in Brazil, strengthening the local supply chain. Seatrium will lead the engineering and construction of both units.
This week, Petrobras also confirmed the restart of construction on Train 2 at the Abreu e Lima refinery (RNEST). The expansion aims to double the refinery’s capacity to 260,000 barrels per day by 2029, increasing the output of higher-value products with lower sulfur content.
More Plans
Beyond the new FPSOs, Petrobras is advancing on several other energy transition fronts:
• Commercialization of VLS B24 bunker fuel, with 24% second-generation biodiesel made from agro-industrial waste.
• First direct sale of coprocessed diesel with renewable content to an end customer.
• Partnership with Embrapa to develop low-carbon biofuels and sustainable fertilizers using feedstocks such as soy, macaúba, and eucalyptus.
• Successful test of 5% eucalyptus biomass oil blended with fossil feedstock—broadening the portfolio of low-carbon solutions. -
WSB tips – Open tenders & more
WSB Advisors is pleased to provide an update on the current long-term tenders that are open to offer.
What has changed?
- Petrobras Wells Plug & Abandonment in Shallow Waters: Opportunity 7004427678 new deadline June 13th, 2025;
- Petrobras SEP Up to 6x PSVs: Opportunity 7004431928 new deadline June 27th, 2025;
- Petrobras SEP Up to 1x PSV GC: Opportunity 7004436597 new deadline June 27th, 2025;
- Petrobras SEP Up to 1x PSV MUF: Opportunity 7004436596 new deadline June 27th, 2025;
- Petrobras SDSVs: Opportunity 7004370497 new deadline July 3rd, 2025.
What else is happening?
Eyes on new pre-salt prospects: Petrobras gears up to drill the first exploratory prospect in the Água Marinha block, Campos Basin, before the end of June.
SEA1 Atlas reconfigures its tanks to boost MGO capacity and lands a 6-month fuel run contract with Saipem.
In a bold move, TotalEnergies trades its 20% stake in the Gato do Mato project to Shell for an extra 3% in Lapa field.
Further news please follows us on digital media:
Best regards,
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Firjan Oil Yearly
On Tuesday, June 10, Firjan hosted a landmark event to launch the 10th edition of the Rio de Janeiro Oil Yearbook, held at Teatro PRIO . The event brought together key figures from the industry, including representatives from Petrobras and PRIO, alongside government authorities such as PPSA, EPE and the State Government, all present to celebrate the release of this important publication.
WSB Advisors, represented by Anidio Correa, and Intcom Solutions, represented by Alvaro Antunes, attended the event reinforcing their commitment to the growth and development of the O&G industry in Rio de Janeiro.
The Rio de Janeiro Oil Yearbook compiles a comprehensive set of relevant data and insights on the sector, highlighting its significant impact on both the state and the country. The document explores the critical role of the oil and gas industry in job creation, tax revenue, foreign exchange earnings and its broader contributions to sustainable and socio-environmental economic development.
Beyond data, the Yearbook stands out as a strategic tool for companies, policymakers and investors seeking to understand the current trajectory of the industry in the context of the global energy transition. A critical reading of this material helps anticipate market shifts, identify investment opportunities and guide corporate decisions aligned with the sector’s structural direction.
Congratulations to FIRJAN on the production and publication of this essential document, which adds depth to the industry’s strategic value in Brazil. -
Nor-Shipping 2025: highlights
Raphael Montes – WSB Proposals Manager & Partner, Paulo de Tarso Rolim de Freitas – WSB Advisory Services Lead, and Pedro Pellegrini – WSB Shipbroker Intern, returned from a two-week business tour through England and Norway. The trip offered firsthand exposure to market trends shaping the future of the maritime and offshore sectors in the North Sea, high-level meetings with key clients, and valuable opportunities to deepen strategic relationships.
Five of the fourteen days were dedicated to Nor-Shipping 2025, held in Lillestrøm, near Oslo, from June 2 to 6. This 60th anniversary edition gathered shipowners, charterers, authorities, brokers and technology leaders. The Brazilian delegation stood out as one of the largest, with notable participation from Petrobras, Transpetro and government representatives like Admiral Lima Filho, Vice-Admiral Ralph Dias and Dino Antunes Dias Batista .
Key topics centered around a critical industry question: how do we move forward while staying commercially viable and technologically relevant? Commercial and regulatory challenges were discussed in depth, both for shipowners and charterers.
One entire day of the Nor-Shipping was marked by events/receptions organized by several Norwegian Broker houses, showing once more how the role of Brokers is embedded in the North Sea’s business, reinforcing the importance this secular profession has in the industry.
On the energy front, there’s a clear shift happening. LNG, batteries/hybridization, non-fossil fuels? Not a single solution anymore! Instead of trying to argue and converge to a single solution for the future, we’re seeing a fragmented but active search for viable transitional fuels. Biomass, in particular, emerged as a dominant theme accross different panels and events.
Althgough transitions and innovation were hot topics of this Nor-Shipping, some things never seem to change, as outlined by Pedro when noting the enduring conservatism of Norwegian Owners towards other markets where protectionist policies, market safeguards and not high enough net revenues such as Brazil still contrast with the desire to expand and attract newcomers to our market.
Nor-Shipping 2025 was not just a trade fair, it was a mirror reflecting where the global maritime sector stands and where it’s headed. For those watching closely: which topics would you highlight from this year’s edition?
What should Brazilian companies be putting on their radar? -
Camorim celebrates new arrival
Camorim has celebrated the delivery of its newest vessel, the ASD tug C-Harpia, this week in Itajaí. Built by Detroit Brasil shipyard, C-Harpia is the fifth and final unit in a series of ASD tugs ordered by the company. Each vessel in the series delivers 70 tons of bollard pull, with total investments approaching R$ 200 million.
The first four vessels, C-Falcão, C-Fênix, C-Albatroz and C-Condor, were delivered between late 2024 and early 2025. With this addition, Camorim’s fleet now surpasses 150 vessels, including PSVs, AHTSs, barges, launches, floating docks and LHs, reinforcing its position as one of Brazil’s leading providers of maritime support services.
“The C-Harpia is part of a project that pays tribute to powerful birds, but this vessel has a special meaning. It’s the first to bear the new ‘C’, a symbol of Camorim’s refreshed visual identity, launched as the company celebrated its 30th anniversary in May. In a way, this delivery closes a chapter in our shipbuilding program. At the same time, it marks the beginning of a new era for Camorim,” said Eduardo Adami, Vice President of Camorim.