Tankers galore for PDVSA

The Brazilian press has reported that that Venezuela’s oil company PDVSA is to pay $2 billion to buy 40 oil tankers from Brazil to renew its fleet. The deal includes Panamax, Aframax, Suezmax and VLCC tankers. Last week the Venezuelan media also reported that President Chavez will travel to Argentina to sign a deal to construct several ships for PDVSA in Argentina in addition to a report, a few months back, that PDVSA had ordered several ships from China.