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No Orders After Petrobras Decided to Purchase Offshore Units Abroad, the Atlântico Sul (EAS) and Vard Promar Shipyards Are on Life Support and Counting Down
After Petrobras made some modifications regarding Local Content, the state of Pernambuco felt the harsh impact. If you don’t know what local content is, click here. As the state-owned company decided to obtain oil platforms and ships from shipyards in other countries because it is cheaper than if they were produced in Brazil, the shipyards were left without services in their work portfolios at Suape. This is because many years of attempts have passed, and the hope was precisely that Petrobras would return to produce with them, but that is not what happened.
In an interview with the Valor Econômico newspaper, the president of the Atlântico Sul Shipyard revealed that the shipyard could stop operating in 2019. This is because 13 ships for Staco that were planned, enabling operational activities until 2022, were canceled. To make matters worse, Traspetro broke off more than half of the project because Petrobras did not sanction the planned deals.
It happens that in the past, the local content law guaranteed 75% of national activities when it came to ships and FPSOs, but with the flexibility and autonomy of BR to choose any companies at will, this is disheartening. The management of EAS said what will happen to them is liable to happen to any shipyard in the country if the Merchant Marine Fund and BNDES do not provide credits to continue their activities.
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In a regular situation, the Atlântico Sul shipyard can directly employ 3,800 people, of which 700 would be from outsourced companies. Vard Promar could easily employ 1,600 direct and 1,500 indirect collaborators, according to calculations by Sindmetal-PE.
At this moment, there are only 9 ships in the final phase across the 3 shipyards. If there are no new contracts by 2019, the doors will close. EAS’s debts with BNDES amount to an incredible total of 1.3 billion reais, and with private banks, this debt reaches 350 million. Both shipyards will be subject to judicial recovery.
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