Navios South American Logistics (Navios Logistics) is to order six panamax products tankers in Brazil after firming up a series of charter contracts with Petrobras.
The state-controlled energy giant says Navios affiliate Hidrovia South American Logistics will register the 63,500-dwt units under the Brazilian flag for the duration of the six, 15-year fixtures.
Petrobras expects to use five of the vessels to transport light products like gasoline and diesel while the remaining ship will carry “dark products”, a statement explains.
The deals mark the end of a two-phase chartering programme dubbed “EBN”, one of several domestic initiatives designed to stimulate Brazil’s burgeoning shipbuilding industry while reducing Petrobras’ exposure to volatility in the freight market.
Under EBN1 and EBN2, 39 vessels will roll out of local yards over the next seven years. All of the ships have secured 15-year charters and will fly the Brazilian flag.
Petrobras did not shed light on whether Navios Logistics has picked a yard but sources in Brazil say it is likely the newbuilding orders have already been placed because the owner was asked to narrow down a list of candidates before the deal was sealed.
According to an exchange filing issued by New York-listed parent Navios Maritime Holdings, Navios Logistics started evaluating the Petrobras proposal and financing options last month.