The newest support vessel RSV (ROV Support Vessel), from the CBO Group, will be able to receive the Brazilian Special Registration (REB) as soon as it arrives in Brazil

The CBO Group – Companhia Brasileira de offshore concluded today the acquisition of another vessel to compose its maritime support fleet. The vessel, which will be named CBO Wave, is the newest RSV (ROV Support Vessel) to integrate the company's vessel fleet, which now has 41 support vessels.

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The CBO Wave was built in 2011 and is an Ulstein SX130 design. With the current flag of Norway, the vessel will be able to receive the Brazilian Special Registration (REB) as soon as it arrives in Brazil, given the availability of CBO tonnage, as provided for by Brazilian legislation (Law 9.432/1997). 

The boat has high standard technical specifications that allow operation in ultra deep waters, such as the Brazilian pre-salt. In addition, it already has a contract signed to operate with Petrobras between 2022 and 2025.

This is the ninth vessel acquired by CBO in its new growth cycle, considering the five vessels acquired via M&A carried out with Finarge, in addition to one vessel being operated via long-term bareboat, totaling ten new vessels in this new cycle.

These acquisitions are part of the Company's growth plan, which includes continuing to invest in the acquisition of vessels high spec to operate in Brazil.

For US$ 94,4 million, Grupo CBO buys Brazilian ship company, Finarge Apoio Marítimo

Last Thursday (09/09) Grupo CBO (Companhia Brasileira offshore) announced, through a Material Fact, that it concluded the closing of the acquisition of the Brazilian company Finarge Apo Maritimo, owner of an AHTS (Anchor Handling Tug Supply) vessel flying the Brazilian flag; and four foreign-flagged vessels, also of the AHTS type, belonging to the Italian Finarge Armamento Genovese SRL, totaling five vessels. The total value of the transaction is US$ 94,4 million. READ THE COMMUNICATION PUBLISHED BY THE CBO GROUP HERE.

More details on the acquisition of Grupo CBO

Payment will be made in three parts: in cash (part until this date and part over the next 24 months); for the assumption of the existing debt at Finarge Apoyo Marítimo Ltda.; and through the issuance of new shares of Grupo CBO, representing 5,60% of its share capital, which will be subscribed and paid up by Finarge SRL.

With the completion of the transaction, the five AHTS ships that the CBO Group now has in its fleet are: AH Giorgio P, an AHTS Terminal Oceânico (AHTS TO) flying the Brazilian flag, and four other AHTS flying foreign flags — AH Valletta and AH Varazze (both AHTS 19.000 Break Horse Power “BHP”), AH Liguria (AHTS 16.000 BHP) and AH Camogli (AHTS TO). With the acquisition, these last vessels will be able to receive the Special Brazilian Registration (REB).

Ships already have contracts with Petrobras

Four of the ships acquired by the CBO Group in the transaction already have a contract signed with Petrobras, with a duration of two to four years, which represents a backlog gross revenue of approximately US$126 million. The vessel that does not yet have a contract, AH Valletta, is already in Brazil, fully ready to operate.

By taking over Finarge's operations in Brazil, the CBO Group incorporates, in addition to assets, Finarge's staff, now having more than 1.450 employees, including seafarers and administrative staff. For this merger process, the company has been relying on the technical support of Consultoria Integration since before the signing of the Investment Agreement, which is responsible for coordinating and planning all activities related to the transition of the structure from Finarge to CBO.

“With this acquisition, CBO consolidates itself as one of the main AHTS operators in the Brazilian maritime support market. offshore, with emphasis on the ability to adapt to the requirements established by its customers, with two AHTS TO, whose operation focuses on supporting FPSOs in the handling and maintenance of hoses. These vessels have gained relevance in this year's Petrobras tenders”, points out Marcos Tinti, CEO of CBO.