Vale signs newbuild contracts

Vale, the Brazilian mining giant, signed a contract with three national shipyards for the construction of 15 new tugs, 32 barges and two pushers. With the order, Vale will be investing $171.1 million to help boost the Brazilian marine industry, generating about 2,370 direct and indirect jobs.

The tugs will be added to the current fleet of the company, which currently has 14 tugs. Eleven tugs will be built at Detroit shipyard, in Navegantes, Santa Catarina state and four others at Santa Cruz shipyard, in Aracaju, Sergipe state. About 1,530 new direct and indirect jobs will be generated with the construction of these vessels alone.

The first new tug will be delivered this year while the others will be completed by 2011. The investment on the new fleet is estimated at $118.6 million.

The 32 barges and the two pushers, an investment of $52.5 million, will be built at Rio – Maguari shipyard, in Belém, Par? state, for delivery by 2010. This fleet will transport ore on the Brazil-Paraguay and Brazil-Argentina routes. This order will generate 600 direct jobs and an additional 140 indirect jobs.