OSX Enters Into $732 Million Contract for 11 New Tankers for Kingfish

OSX was hired by Kingfish do Brasil Navegação S/A to build 11 medium range tankers, with 45,000 DWT (Deadweight Tonnage) each, for transportation of oil and clear products. These vessels shall be chartered by Kingfish to Petrobras. The approximate total value of the shipbuilding contract between Kingfish and OSX is US$ 732 million with deliveries expected to take place until 2017, at the Açu Shipbuilding Unit, located in the north of the State of Rio de Janeiro.

Kingfish do Brasil is dedicated to providing logistics and marine transportation solutions to the Brazilian oil and gas market, by means of cabotage and long haul shipping. The company was founded by Kingfish Trading in 2009. The founders and shareholders of the company have over 25 years of experience, both in Brazil and internationally, in ship building and commodity transportation and trading, with a focus in oil, gas and petroleum derivatives.

"Fourteen shipbuilding projects now comprise OSX's task list at our Açu Shipbuilding Unit. Our team will build, in São João da Barra, 11 MR tankers for Kingfish, 1 PLSV for Sapura Seadrill and realize the integration of FPSOs OSX-4 and OSX-5 for OGX. At OSX, each one of us is proud to be able to dedicate our work to the development of oil production in Brazil." stated Luiz Eduardo Guimarães Carneiro, CEO of OSX.

On February, 28th, OSX signed a contract with Sapura Navegação Marítima S/A for the construction of one PLSV (Pipe-Laying Support Vessel), for a total amount of approximately US$ 263 million. A PLSV is used for laying and installing flexible pipelines on the seabed.

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Source: 4-traders (http://www.4-traders.com)