Transpetro, the maritime shipping arm has confirmed Promar Ceara has won a contract from the Brazilian tanker outfit to build eight LPG carriers, the company announced Friday.
Rio de Janeiro-based Transpetro, which owns 53 tankers and has a 49-ship newbuilding program has ordered four 7,000-cbm LPG carriers, two 12,000-cbm units and two 4,000-cbm vessels from the Brazilian shipyard.
Transpetro estimates the market value of the vessels will be $536m once completed.
As TradeWinds has reported, Estaleiro Ilha SA (Eisa) and Maua Shipyard had also submitted bids in the tender.
But with market players saying that greenfield yards in Brazil have cost advantages over existing facilities, Promar Ceara has been expected for months to come out on top.
A minimum of 70% of the construction project must take place at the domestic yard under the terms of Promef.
Promef, the billion-dollar state-sponsored fleet expansion program was designed to help Brazilian shipyards gain a global competitive edge while the country works to boost its domestic shipbuilding capability.