Petrobras to Double Ships at Rio by 2015, Operator Says

Triunfo Logistica Ltda, a terminal operator in the Rio de Janeiro port, said it’s preparing to double the number of ships the company handles for Petroleo Brasileiro SA (PETR4) over the next two years.

Triunfo has two contracts for a total of 350 to 370 vessels a month for Petrobras, as the country’s state-run oil producer is known, and is seeking to cut the time each ship is docked as a way to avoid spending on infrastructure to receive more ships, Chief Executive Officer Rogerio Caffaro said in an interview at the company’s port offices.

The surge in demand will come as Petrobras seeks to ramp up production over the next seven years of so-called pre-salt reserves under the Atlantic Ocean seabed. Support vessels for both Petrobras’s pre-production and productive fields will account for Triunfo’s higher work flow.

“Petrobras is working with Triunfo to slash times, which are currently at 15 hours per ship, less than the 17 hours stipulated by contract,” Caffaro said.

Ships handled by Rio de Janeiro-based Triunfo for Petrobras are mainly Platform Supply Vessels, Anchor Handling Tug Supply Vessels and Research Vessels.

The two Petrobras contracts account for 40 to 50 percent of closely-held Triunfo’s 200 million reais of annual sales, Caffaro said. The company also operates with containers and steel shipments, and has maintenance contracts for Floating Production, Storage and Offloading vessels with third parties.

Tug-boat operator Wilson Sons Ltd (WSON11) and vessel suppliers and operators Tidewater Inc. (TDW) and Hornbeck Offshore Services Inc. (HOS) are among companies that operate in the Brazilian off-shore oil industry. Petrobras accounted for 93.9 percent of Brazilian oil production in November, the latest data published by the oil regulator show.

Petrobras’s press office didn’t immediately answer questions sent by e-mail on the company’s port handling plans.

To contact the reporter on this story: Rodrigo Orihuela in Rio de Janeiro at rorihuela@bloomberg.net

To contact the editor responsible for this story: James Attwood at jattwood3@bloomberg.net

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