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With Petrobras listed on the New York Stock Exchange, US sanctions against Chinese shipyards could directly impact the state-owned company, making it harder to hire vessels and making operations in the pre-salt layer more expensive. Without its own shipbuilding industry, will Brazil be held hostage by external decisions?
The US decision to place the marine industry of large Chinese shipyards being blacklisted may seem like a distant problem, but the truth is that this could directly affect Brazil and Petrobras. After all, the state-owned company has shares traded on the New York Stock Exchange and, therefore, need to follow American sanctions.
But the question that remains is: How can Brazil maintain its sovereignty in the naval sector without depending on Washington's decisions? These are pertinent questions raised by TradeWinds, a specialized portal.
Brazilian naval industry: abandonment or salvation?
Petrobras is one of the largest operators of offshore oil platforms in the world, and this means direct dependence on the naval industry. Without ships, platforms and support boats, simply there is no way to produce oil in the pre-salt.
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In the last years, the Brazilian naval industry was practically dismantled, with the justification of inefficiency and high costs. Meanwhile, China and South Korea dominated the construction of ships and platforms in the world. Now, with the tension between the US and China, Brazil may be left without options and completely vulnerable.
Brazil hostage to US decisions?
If the US further tightens sanctions against Chinese shipyards, Petrobras may have difficulty hiring new vessels. In addition, the cost of platforms and vessels can rise absurdly, as the few available South Korean and Japanese shipyards would be overwhelmed.
In other words, Brazil can be forced to pay more to operate its fleet, while competitors like China and even Russia continue without restrictions. Wouldn't this put the country at a disadvantage in the global market? 🤯
Does Brazil need its own naval industry or not?
Many argue that Brazil must resume its shipyards to ensure independence and not be at the mercy of external decisions. Others argue that protectionism increases costs and creates inefficiency.
But with the US tightening its grip on China, Brazil risks having no choice but to rebuild its naval industry.
What's up, Is it worth waiting until the problem blows up, or is it past time to act? ⚠️
I hope another **** like Bolsonaro doesn't come along to sell and dismantle state-owned companies.
It is high time to rebuild everything that other countries have to offer and we here are still dependent on others. If we didn't have raw materials we would remain silent, but with strength we can have naval power, better than many countries in the world!
The Brazilian shipbuilding industry began to be demobilized in the early 1980s. We were the second largest in the world, behind only Japan. President Figueiredo's government did not implement the 2rd Naval Concentration Plan, because the “War Economy” was implemented and there was no money. We had no way of keeping things running, especially due to competition from South Korea, which had a labor force that was practically free of charge, since it used workers from its armed forces. Our strength was not in platforms, but in cargo ships, although in 3 we delivered the P1979 to Petrobras, built at the Mauá Shipyard, which I had the pleasure of participating in the construction of. Now, the problem of reactivating shipbuilding is to rebuild the workforce. I am 1 years old, I have experience in this construction, I participated in work on jumborization of oil tankers and renovation of the Discovery Stimulator Ship, but I did not follow the technological evolution of construction. There is much more to it. The subject is complex and challenging.