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Merchant Marine Fund approves BRL 116,5 million for Naval Construction

Written by Renato Oliveira
Published 30/03/2019 às 01:00
Updated 29/03/2019 às 15:45

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FMM will finance shipbuilding
Naval Construction has funding approved

FMM resources are approved to be used to finance nine Naval Construction projects

Last Tuesday (26/03), during the 40th Ordinary Meeting of the Board of Directors of the Merchant Marine Fund (CDFMM), R$ 116,5 million were approved to finance nine new Naval Construction projects with resources from the Fund of Merchant Marine (FMM).
The Fund is the main source of long-term financing for the naval sector and is managed by the Ministry of Infrastructure, through the CDFMM.

It is through it that resources are made available for the installation and modernization of shipyards and also for Brazilian companies to establish, renew or expand their fleet of vessels.

In the opinion of the president of the CDFMM, Natália Marcassa, the Fund's resources are essential for the development of the Brazilian naval sector and that the intention, in the next meetings, is to present measures that increase investments with FMM resources, aiming at the recovery of Naval Construction national.

She also explained that the R$ 116,5 million will be used in nine new projects, which involve various types of projects in shipbuilding, such as, for example, vessels destined for export, conversion and repair of vessels, in addition to projects aimed at installation of shipyards.
An important piece of information regarding the FMM is that, depending on the national content and the type of vessel, the percentage that it can finance can reach 90% of project values.

priority projects

The list of projects that are priority for these financings will be published in the Official Gazette of the Union in the next few days and companies can contract financing through accredited financial agents, such as BNDES, BB, CEF, BNB, BASA).
The term for contracting the financing is 450 days.

Interested parties have until May 6, 2019 to submit their projects so that they can confirm funding priority and the next Regular Meeting of the CDFMM is scheduled for July 4, 2019.

To get an idea of ​​the importance of the FMM for national shipbuilding, we are about to close only the first quarter of 2019 and the amount of R$ 703 million has already been transferred to financial agents to finance prioritized projects and 12 vessels have been delivered to the market.

See how the R$ 116,5 million are divided by the 9 priority projects:

  • Conversion: Vessel Conversion (PSV to SDSV); Quantity: 02; Approved amount: 23,3 Million
  • Repair: Repair of vessels for class certification; Quantity: 04; Approved amount: 14,2 million
  • Shipyards: Supplementation for the construction of 1 floating dock; Quantity: 01; Approved amount: 5,8 Million
  • Shipyards: Construction of Shipyard; Quantity: 01; Approved amount: 56,8 Million
  • Export: Production of a floating platform for transferring people and cargo between vessels; Quantity: 01; Approved amount: 16,4 Million

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Renato Oliveira

Production Engineer with a postgraduate degree in Manufacturing and assembly of pipelines with 30 years of experience in inspection/manufacturing/assembly of pipelines/tests/Planning and PCP and commissioning in shipbuilding/offshore (conversion of FPSO's hulls and topsides modules) in the largest national shipyards and 2 years in a Japanese shipyard (Kawasaki) inspecting and accompanying fabrication and assembly techniques of structures/pipes/outfittings (advanced finishing) for hull from Drillships.

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