STX Norway Offshore AS and partner PJMR Empreendimentos Ltda has through its subsidiary Estaileiro Promar S.A entered into contracts for building of eight LPG Carriers at the new shipyard in Brazil. The value of the contract is approximately million USD 536.
On July 9th, 2010 Estaleiro Promar S.A. signed 8 contracts to build LPG Carriers for Transpetro, the shipping arm of the Brazilian oil giant Petrobras. The contracts amounts MUSD 536, comprising the construction of two different types of LPG Carriers: fully pressurized with cargo capacity of 7.000 m3 (4 units) and 4.000 m3 (2 units) and semi-refrigerated with cargo capacity of 12.000 m3 (2 units).
These vessels are part of the PROMEF 2, the second phase of the ambitious Transpetro's Fleet Modernization and Expansion Program and are scheduled to be delivered within Q3 2013 to Q4 2015.
STX Norway Offshore is developing the new shipyard in Brazil together with its Brazilian long-time partner PJMR Empreendimentos Ltda. STX Norway Offshore AS own 50.5% of Estaileiro Promar S.A.
Roy Reite, President of STX Europe's Offshore & Specialized Vessels business area, says: "Today's order confirms our strong position in the Brazilian shipbuilding market. We have during the last 10 years developed a strong name together with our partners in PJMR and this is an important step in our further development and expansion in Brazil.
Estaleiro Promar and Transpetro are jointly applying to the FMM- Brazilian Merchant Marine Fund to finance the project.
For further information please contact:
| STX Norway Offshore AS|
Hege Anita Akselvoll
Offshore & Specialized Vessels
Direct: +47 71 18 35 34
Mobile: +47 91 69 00 51
SVP Business Development
Offshore & Specialized Vessels Direct: +47 70 21 06 14
Mobile: +47 99 15 50 33
STX Europe is an international shipbuilding group which aims to be the leading builder of cruise and offshore vessels. The group has a strong position in terms of developing state-of-the-art concepts, technology, processes and products for customers around the world. STX Europe comprises 15 shipyards in Finland, France, Norway, Romania, Brazil and Vietnam. STX Europe has approx. 16 000 employees. Formerly known as Aker Yards, the group changed its name to STX Europe in November 2008.
STX Europe's principal shareholder, the international industrial group STX, has approximately 40 000 employees and aims to be a global top player in its core areas; shipping and trade, shipbuilding and machineries, plant and construction, and energy.
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)