Bram Offshore to Receive R$ 83 Million in Financing from BNDES for Repairs on Its Support Vessel Fleet

Written by Ruth Rodrigues

Published on 17/10/2022 at 10:50

Foto: Bram Offshore

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Repairs on Support Vessels for the National Oil Sector Will Be Essential to Strengthen the Company’s Presence in Brazil. BNDES Aims to Boost Bram Offshore’s Business and Contribute to the National Market with Financing.

Bram Offshore Transportes Marítimos Ltda, based in Niterói, made a significant advancement this past week for its expansion in the national offshore market. This is because the National Bank for Economic and Social Development (BNDES) announced last Tuesday (10/11) the approval of financing of R$ 83 million for the company. The amount will be applied to repair works on seven vessels in the company’s support fleet for the oil sector.

BNDES Approves Million-Dollar Financing and Boosts Bram Offshore’s Support Vessel Fleet

BNDES has been increasingly seeking to boost the national oil and natural gas market, taking a significant step for this initiative this week.

The bank announced million-dollar financing for the support services company, Bram Offshore.

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With the R$ 83 million, the company will carry out repair works on seven vessels in its national fleet, in addition to converting another five ships for the offshore sector.

The amount will be granted with resources from the Merchant Marine Fund (FMM), aiming to ensure even greater growth in the market for support services for oil production in the country.

The maritime support fleet in Brazilian waters totaled 411 vessels at the end of July, with 375 flying the Brazilian flag and 36 flying foreign flags, according to data from the Brazilian Association of Maritime Support Companies (Abeam).

Moreover, the Federal Government has been announcing that the share of support services is increasingly expanding in the country.

Therefore, BNDES’s financing for Bram Offshore will bring new avenues for the growth of these operations in oil and natural gas production.

All Repair and Conversion Works on the Company’s Vessels Will Take Place at Navship Shipyard

In addition to ensuring good growth for Bram Offshore in the national oil and support services market over the coming years, BNDES also seeks to strengthen business with national shipyards.

Thus, all works on the company’s vessels will be carried out at Navship Ltda. shipyard, located in the municipality of Navegantes, Santa Catarina.

The bank will then be able to strengthen ties with the shipyard while contributing to the improvement of Bram Offshore’s operations.

“Currently, the offshore support vessel segment is in a growth recovery, with new contracts being awarded by oil companies and an increase in the fleet operating in the country. From September of last year to May 2022, 20 new vessels were added to the operating fleet in Brazil, reaching a total of 410 vessels, both national and foreign,” highlighted BNDES.

Bram Offshore intends to leverage the bank’s financing to introduce new business in the national territory by enhancing its support services.

Learn More About Bram Offshore

Bram Offshore Transportes Marítimos Ltda. is a company of the Edison Chouest Offshore Group specialized in maritime support transportation for the oil and gas industry in Brazil.

The arrival of the first vessel from the Chouest Group occurred in 1991, and the fleet operating in Brazil has been growing, now comprising more than 60 highly specialized, state-of-the-art vessels.

The company will now be able to take new directions for growth with the financing approved by BNDES.

Bram Offshore to Receive R$ 83 Million in Financing from BNDES for Repairs on Its Support Vessel Fleet

Repairs on Support Vessels for the National Oil Sector Will Be Essential to Strengthen the Company’s Presence in Brazil. BNDES Aims to Boost Bram Offshore’s Business and Contribute to the National Market with Financing.

BNDES Approves Million-Dollar Financing and Boosts Bram Offshore’s Support Vessel Fleet

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

All Repair and Conversion Works on the Company’s Vessels Will Take Place at Navship Shipyard

Learn More About Bram Offshore

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Bram Offshore to Receive R$ 83 Million in Financing from BNDES for Repairs on Its Support Vessel Fleet

Repairs on Support Vessels for the National Oil Sector Will Be Essential to Strengthen the Company’s Presence in Brazil. BNDES Aims to Boost Bram Offshore’s Business and Contribute to the National Market with Financing.

BNDES Approves Million-Dollar Financing and Boosts Bram Offshore’s Support Vessel Fleet

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All Repair and Conversion Works on the Company’s Vessels Will Take Place at Navship Shipyard

Learn More About Bram Offshore

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At over 8,800 meters above sea level, the summit of Mount Everest is made up of rocks that originated at the bottom of an ocean about 500 million years ago and were pushed to the highest point on Earth by the collision of tectonic plates.

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