Vard Promar bears first fruit

The Barbosa Lima Sobrinho, the second tanker in a series for Transpetro, was built entirely at Vard Promar. The company said the delivery marks an important milestone for the development of the yard, and confirmed that its two Brazilian yards – the other being the long established Niterói yard near Rio de Janeiro – have eight vessels on the order book. In total Vard has orders for 29 vessels, as of 31 December 2015.

Late last year Transpetro cancelled the last two tankers in a series of eight ordered from Vard, which were due to be built at Promar. As a result of that cancellation Vard reported that it was considering its exposure to the Brazilian market, as well as considering compensation claims against Transpetro.