Bloomberg News

Petrobras Tanker Division Suspends EAS Contract, O Globo Says

May 27, 2012

Petroleo Brasileiro SA (PETR4)’s Transpetro transportation unit suspended contracts with Estaleiro Atlantico Sul shipyard worth 5.3 billion reais ($2.7 billion) to build 16 oil tankers, O Globo reported, citing an interview with Transpetro President Sergio Machado.

To resume the contracts, Estaleiro Atlantico Sul, known as EAS, has until Aug. 30 to find a new partner to provide technology to the shipyard after Samsung Heavy Industries Co. (010140) sold its stake in the business, Machado told the Rio de Janeiro- based newspaper.

Camargo Correa and Queiroz Galvao, EAS’s controlling shareholders, said the company agreed with the suspension of the contracts, O Globo reported without saying how it obtained the information. EAS is in talks with Japan-based Ishikawajima- Harima Heavy Industries to fulfill Transpetro’s demands, the newspaper said, without identifying where the information came from.

Transpetro didn’t respond to calls to mobile-phone and fixed-line telephone numbers.

To contact the reporter on this story: Andre Soliani in Brasilia at asoliani@bloomberg.net;

To contact the editor responsible for this story: Sylvia Wier in New York at swier@bloomberg.net


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