FACT PACK. BRAZILIAN SHIPBUILDING INDUSTRY with focus in the Oil & Gas Sector. Swedish Trade Council Brazil

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1 1 FACT PACK BRAZILIAN SHIPBUILDING INDUSTRY with focus in the Oil & Gas Sector Swedish Trade Council Brazil 2006

2 BRAZIL BASIC FACTS Political System: President: States: Biggest cities: Democracy Luís Inácio Lula da Silva 26 and a Federal District Brasília (capital), São Paulo, Rio de Janeiro, Curitiba, Porto

2 2 BRAZIL BASIC FACTS Political System: President: States: Biggest cities: Democracy Luís Inácio Lula da Silva 26 and a Federal District Brasília (capital), São Paulo, Rio de Janeiro, Curitiba, Porto Alegre, Belo Horizonte Exchange rates: USD 1.00 = R$ 2.17 (Sep 06) R$ 1.00 = SEK 3.35 (Sep 06) Life expectancy: 71 years Urbanization: 82% North Northeast Central East Southeast South 5th largest country in the world in area (19 times larger than Sweden) 5th biggest population in the world (184 million inhabitants) 11th biggest economy 40 million consumers with Swedish purchasing power or stronger Almost 50% of total GDP in South-America Big receiver of Foreign Direct Investment

3 ECONOMIC INDICATORS SHOW A POSITIVE DEVELOPMENT 1(2) % Interest Rate - ( Selic) * 07* SELIC is the Central Bank average rate based on banks transactions Inflation - (IPCA) % * 07* IPCA - Consumer Price GDP- Real Growth Rate FDI Brazil (USD billion) % * 07* * 07* *Forecast by the biggest private bank Bradesco Source: IBGE Brazilian Institute of Geography and Statistics / 3

4 KEY INDICATORS SHOW A VERY POSITIVE DEVELOPMENT 2(2) Unemployment rate % * 07* IBGE International reserves (USD billion) * 07* Net public debt - % of GDP % * 07* Trade flow - % of GDP % * 07* *Forecast by the biggest private bank Bradesco Source: IBGE Brazilian Institute of Geography and Statistics / 4

5 5 SNAPSHOTS OF THE MARKET Rio de Janeiro is the most important region for the shipbuilding industry: 40% of the main shipyards are located to Rio; Transpetro will tender for construction of 42 crude carriers for the fleet s expansion and modernization program. Orders of the first 26 tankers was concluded in June, Five shipyards will build the vessels. Brazil is the 2nd largest supply boat producer in the world; 19 new supply boats are being projected. Petrobras is constructing 13 new oil platforms of which six are under construction and seven are under bidding or will be called for bids. Brazilian and international groups establishing new shipyards and expanding existing facilities The shipbuilding sector employs directly more than 19 thousand persons. An increase of approximately 300% compared to the 1990 s; The sector will invest almost USD 2 million in training personnel in the states of Pernambuco and Rio de Janeiro. Around 5,000 employees will be trained in Rio de Janeiro.

6 Source: FMM - Merchant Navy Fund 6 40% OF THE MAIN BRAZILIAN SHIPYARDS ARE LOCATED IN RIO DE JANEIRO Main Shipyards Map Aker Promar Aliança Brasfels EISA Rio de Janeiro (RJ): Mauá-Jurong Enavi/Renavi Rio Nave Sermetal Amazonas (AM): 5 Santa Catarina (SC): Conave Detroit Brasil Estaleiro São João Estaleiro Itajaí Eram TWB Estaman 3 Ceará (CE) 6 Pará (PA): Inace ABS Estaleiro Rio Maguari 4 São Paulo (SP): ETN Wilson Sons 5

7 7 SHIPYARD ACTIVITIES ARE BOOMING (1/4) Ongoing activities at shipyards SHIPYARD ACTION ONGOING ACTIVITIES Building 1 ferry boat to Brazilian company ABS Building 1 transport barge to Brazilian company Repairing 3 barges to Brazilian companies Aker Promar Do not disclosed information Aliança Do not disclosed information Building 2 Platforms to Petrobras Building 1 PSV vessel to Maersk Brasfels Building 2 compression modulus to FPSO P-50 to Dresser-Rand Repairing Dry-docking to install the calm buoy SBM II to Petrobras Repairing Conversion of crane Ocean Winner to Diamond Offshore Drolling Conave NA Not Available Detroit Brasil Building 2 Tugs to a Brazilian company Building 2 PSV's to UP Offshore - a Brazilian company EISA Building 2 10,000 TPB Barge Building 1 bulk carrier to GTL - a company from Bermuda Building 1 OSCV-06 to Aker Promar - a Brazilian shipyard

8 8 SHIPYARD ACTIVITIES ARE BOOMING (2/4) Ongoing activities at shipyards SHIPYARD ACTION ONGOING ACTIVITIES Repairing 1 barge to Brazilian company Eram Building 1 oil barge to Brazilian company Building 1 port to Brazilian government Building 1 AHTS Vessel to BOS - Brazilian company Estaleiro Itajaí Building 1 GLP Vessel to Brazilian company Building 2 containers ship to Maersk Building 1 barge to container transport Estaleiro Rio Maguari Repairing 2 oil barges Estaleiro São João NA Not Available Estaman Repairing The biggest oil barge of North region Repairing 1 pusher to the same barge

9 9 SHIPYARD ACTIVITIES ARE BOOMING (3/4) Ongoing activities at shipyards SHIPYARD ACTION ONGOING ACTIVITIES Enavi/Renave ETN Inace Mauá-Jurong Repairing 1 tanker to Petrobras Repairing 3 supply boats. 1 Italian and 2 Brazilians Repairing 1 GLP vessel to Norwegian company Building 4 barges to Brazilian Company Building 2 pushers to Brazilian Company Building 2 fishing vessels to Brazilian company Building 1 Forward HouseYatch to an American company Building 1 Supply boat to a Brazilian company Building 2 Explorer Yatches. One German and one Brazilian Building 2 Mini Explorers. One American and one Brazilian Building 1 Patrol Vessel to Namibian Navy Do not disclosed information

10 SHIPYARD ACTIVITIES ARE BOOMING (4/4) Ongoing activities at shipyards SHIPYARD ACTION ONGOING ACTIVITIES Rio Nave Building 2 hulls to Brazilian company Repairing 2 Supply boats. One Brazilian and one to Greek company Sermetal Repairing The platform BGL2 to Petrobras Building 1 tug hull to Brazilian government Repairing 1 passengers barge to Brazilian government TWB Building 2 oil barge hull to TWB Group Building 1 tuna vessel hull to Brazilian company Building 1 Ferry-boat to São Paulo's government Wilson Sons Building 1 PSV vessel Building 1 Tug to a Brazilian company The shipyards with more activities at this moment are Brasfels, EISA, Inace and TWB 10

11 ource: Patrobrás 11 THREE MAIN SHIPBUILDING SEGMENTS ARE ORDERING AROUND 8 BILLION USD THE NEXT THREE TO FOUR YEARS Supply Boats As there is a demand of a renewed fleet, ship owners like NORSKAN, Maersk, BOS, UP Offshore are ordering 19 new supply vessels from the Brazilian shipyards. Estimated investment: USD 0,6 billion Oil Platforms Petrobras is constructing 13 new oil platforms of which six are under construction and seven are under bidding or will be called for bids. Estimated investment for the next seven platforms: USD 5,2 billion Tankers Transpetro concluded in June, 2006 order for 26 new tankers to be produced in Brazil. Another 16 vessels will be constructed in a second step. Total first step investment : USD 2,5 billion

12 THE NUMBER OF BRAZILIAN SUPPLY BOATS HAS INCREASED AROUND 70% SINCE 2002 The Brazilian fleet had an increase of 56.3% last 3 years and the sector expects a growth of 26.6% for 2007; Annual revenue from Brazilian Supply Boats increased 24% from 2002 to 2005 and the sector expects an increase of more than 31% within the next 2 years Brazilian Supply Boats Fleet Annual revenue (USD Million) Year Brazilian Foreign Total % Braz % % % 2007* % 2008* % Brazilian Foreign * Estimated Source: ABEAM The Brazilian Association of Offshore Support Companies Brazil is the 2nd largest supply boat producer in the world 12

13 13 THE FORECAST FOR FOREIGN ORDERS OF VESSELS IN BRAZIL IS POSITIVE 6 Tugs 6 PSV s ABS 4 Bulk carriers 2 Ferry boats 1 Dredging boat

14 Source: ABEAM The Brazilian Association of Offshore Support Companies NEW SUPPLY BOATS ARE BEING PROJECTED AND WILL BE BUILT THE COMING YEARS IN BRAZIL New constructions of supply boats in progress ordered by foreign companies FOREIGN COMPANIES PSV AHTS TOTAL Alfanave Augusta BOS CBO Delba Maersk Norskan UP Offshore Total

15 Source: Portos e Navios Magazine, MARCH THE SUPPLY BOATS IN BIDDING PROCESS WILL REACH USD 444 MILLION IN THE NEXT YEARS Type Bidding Process Estimated Operation Start * RSV Open Dec/2005 to Dec/2007 PSV 3000 Bulk Carrier Open Jan/2006 to Dec/2006 PSV 3000 Fluids To open - tech specs to be released Apr/2005 to Mar/2007 PSV 3000 Oil To open - tech specs to be released Sep/2005 to Mar/2007 PSV 2000 To open - tech specs to be released Until Jul/2008 PSV 3000 Cargo PSV 4500 Cargo To open - tech specs to be released Dec/2005 to Dec/2007 P2 / P3 / P5 To open - tech specs being made Until Mar/2008 UT 4000 To open - tech specs being made Until May/2008 AHTS FiFi OR AHTS FiFi TO To open - tech specs being made Until Apr/2009 OWS To open - tech specs being made Until Aug/2009 Investments US$ Million *The start dates are uncertain some projects are delayed

16 16 TRANSPETRO CONCLUDES ORDER OF 26 SHIPS FOR THE FLEET S EXPANSION AND MODERNIZATION PROGRAM Transpetro will tender for construction of 42 crude carriers. All of them will be produced in Brazil. The first 26 vessels were ordered in June, 2006; The Brazilian Development bank will finance through the Merchant Navy Fund up to 90% of each vessel. The amortization period is 20 years with an interest rate at 4% per year; The construction of the first 26 carriers will generate more than 20,000 new jobs. Breakdown of the 26 carriers to be constructed QUANTITY MODEL DESCRIPTION SHIPYARD 10 SUEZMAX Oil and crude / DPP - dirty petroleum products 150,000 tdw *a consortium of Camargo Corrêa, Andrade Gutierrez, Queiroz Galvão, Aker Promar and Samsung ** a consortium of Sermetal, MPE Engenharia and IESA Consórcio Atlântico Sul* USD BILLION 5 AFRAMAX 130,000 tdw Consórcio Rio Naval** 0,52 4 PANAMAX Oil and crude / DPP - dirty petroleum products 70,000 tdw 1,21 Consórcio Rio Naval** 0,35 4 LIGHT Boats to transport CPP - clean petroleum products Mauá-Jurong Yard 0,28 3 GLP Boats to transport CPP - clean petroleum products Itajaí S.A. Yard 0,13

17 17 BRAZILIAN AND INTERNATIONAL GROUPS ARE ESTABLISHING NEW SHIPYARDS AND EXPANDING EXISTING FACILITIES Brazil s Sermetal group will receive investments of USD 20 million from consortium Rio Naval formed by the companies MPE, IESA and Hyundai; The consortium Atlantico Sul will construct a USD 220 million yard in the north-eastern state of Pernambuco. The consortium is formed by the companies Andrade Gutierrez, Queiroz Galvão, Aker Promar and Samsung; Maua Jurong will invest USD 18 million to construct the Platform Mexilhão in Santos to Petrobras and 4 tankers to Transpetro. The shipyard EISA will invest USD 2 million in a construction tendered by an American company; The Brazilian Development Bank will finance the new shipyard Navship - a specialized yard in supply boats. The new yard will be located in the state of Santa Catarina and will receive total investments of USD 56.5 million.

18 THE MOST IMPORTANT TRADE FAIRS SHIPBUILDING June 19 to 22, 2007 - Macaé Rio

com Web Site: http://www.brasiloffshore.

br November 27 to December 1, 2006 - Rio de Janeiro Phone: +55 21 2283-2482 /

18 18 THE MOST IMPORTANT TRADE FAIRS SHIPBUILDING June 19 to 22, Macaé Rio de Janeiro Phone: contato@brasiloffshore.com Web Site: September 11 to 14, Rio de Janeiro Phone: riooil2006@ibp.org.br Web Site: November 27 to December 1, Rio de Janeiro Phone: / sobena@sobena.org.br Web Site: November 27 to December 1, Rio de Janeiro Phone: / sobena@sobena.org.br Web Site:

19 19 SWEDISH TRADE COUNCIL HELPS SWEDISH COMPANIES TO DO BUSINESS IN BRAZIL Contact Information São Paulo Head Office Rio Branch Office Phone: Fax: Web site: Address: Rua Joaquim Floriano, Cj Zip: City: São Paulo Country: Brazil Phone/Fax: lars.magnusson@swedishtrade.se Web site: Address: Av. Atlântica Zip: City: Rio de Janeiro Country: Brazil

STRATFOR 700 Lavaca Street, Suite 900 Austin, TX Tel: SHIPBUILDING IN BRAZIL: A Sector Assessment

STRATFOR 700 Lavaca Street, Suite 900 Austin, TX 78701 Tel: 1-512-744-4300 www.stratfor.com SHIPBUILDING IN BRAZIL: A Sector Assessment Jan. 20, 2010 1 SHIPBUILDING IN BRAZIL: A Sector Assessment Overview