Brazil is expected to require another 250 offshore supply vessels by 2020.
Guilherme Caixeta, vice president of private equity fund P2 said Brazil now has 430 offshore support vessels, but demand will grow to 680 vessels in 2020, which means the country will need 250 extra vessels.
P2 is currently proceeding with a new shipyard and OSV newbuilding project.
It will construct a shipyard called Oceana in Santa Catarina and build four platform supply vessels for Petrobras initially.
The total cost of the project is BRL 670m ($331m), of which BRL 220m is for construction of the yard with the rest going towards financing the ships.
The first two vessels will be delivered by 2015 or 2016.