STX OSV: Got US$536 Million Vessel Construction Contract From Petrobras Unit

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SOURCE Dow Jones Newswires | 20 November 2011

STX OSV Holdings Ltd. on Sunday said it has won a contract worth US$536 million from a unit of a unit of Brazilian energy giant Petroleo Brasileiro S/A to build eight liquefied petroleum gas carriers.

The Singapore-listed shipbuilder of offshore and specialized vessels had signed a contract for the vessels from Petrobras Transporte S.A. in July 2010 but had not included it in its orderbook, STX OSV said in a statement to Singapore Exchange, without giving a reason.

The contract involves the construction of two different types of LPG Carriers and the vessels are scheduled to be delivered between 2014 and 2016 from STX OSV's new shipyard currently under development at Suape in the state of Pernambuco, Brazil, it said.

By Gaurav Raghuvanshi 

11-20-11 0312ET

Copyright (c) 2011 Dow Jones & Company, Inc.