MARAD Gives Brazil Green Light For 5 PSVs at Eastern Shipbuilding

The U.S. Maritime Administration has approved the request from Boldini, S.A. of Brazil for financing guarantees reaching $227million over the span of 25 years for construction of 5 platform supply vessels at Eastern Shipbuilding Group in Panama City, Florida. 

This appears to be the last hurdle for Eastern Shipbuilding and Boldini in the 2-year long Title XI loan process.  Pre-engineering work will begin for the 282-foot long platforms destined for the growing offshore industry in Brazil.  Florida Senator, Bill Nelson, has been an integral advocate in the entire recruitment process with Brazil and stated that the work can commence in as little as 6 months. 

The contract is integral for the recovery of Florida’s waning economic climate, especially after the dramatic spill in the Gulf.  Senator Nelson says it will create as many as 300 well-paying jobs for multiple years to come. 

President of Eastern Shipbuilding notes that this deal is beneficial for his company, for the community, and for the trajectory of future jobs, as these first 300 jobs could have a multiplier effect to create 1,500+ ancillary jobs for the Bay County in Florida. 

Eastern Shipbuilding is currently building 5 similar vessels for domestic companies.