* Contract is OSX's biggest from non-Batista company
* Ships will be leased to Petrobras for cabotage trade
* Kingfish expects to get Brazil Marine Fund financing
Brazil's OSX , which is building the Southern Hemisphere's largest contract to
build 11 oil and fuels tankers for the Brazil unit shipyard, said on Monday that it won a $732 million of London-based Kingfish Trading.
The order boosts the value of contracts for OSX's shipyard
with Korea's Hyundai
. OSX expects to start building its to $5.80 billion. The yard is under construction at the Port of Açu north of Rio de Janeiro in partn first ship in the
first quarter of 2013.
Kingfish do Brasil will lease the 45,000 deadweight tonne
Managing Director of Kingfish Trading, told Reuters.
"medium range" crude and clear-products tankers to Brazil's
state-led oil company Petrobras, Mark Slemeck
,first ship is scheduled to be delivered in 2014.
The ships are designed for the cabotage trade, or Brazilian
in 2017.
Kingfish and OSX are looking to cash in on costal service, and will be used by Petrobras' refining and supply unit, he said. The last ship is to be delivered
the discovery of giant new oil reserves off the coast of Rio de Janeiro.
Brazilian government rules require that companies developing the and Santos basinsthe biggest offshore oil frontier in the resources build much of the equipment and source many of the services they need in Brazil.
New discoveries have made Brazil's Campos world and suggest that the areas hold about 100 billion barrels of oil and natural gas.
That's enough to supply the United States, the world's largest
oil consumer, for more than 14 years.
The Kingfish contract with Petrobras is part of the oil
company's fleet renewal program and Kingfish has received
preliminary approval for low-cost loans to finance construction
from Brazil's Merchant Marine Fund, Slemeck said.
On Feb. 28 OSX signed a contract with the Brazil unit of
Malaysia's Sapura to build a pipe-laying support vessel for $263
million.
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