OceanPact snaps up Brazilian ship repair yard

Brazilian offshore vessel owner OceanPact has acquired Dock Brasil, a ship repair and docking yard located near Rio de Janeiro, for R$119m ($23.1m).

Dock Brasil said the goal of this acquisition was to further strengthen its role as a shipyard focused on serving the entire maritime support vessel industry.

The completion of the operation is conditional upon the fulfilment of corporate and legal steps, scheduled to occur throughout the month of August, with an expected completion date of August 31.

OceanPact was already part of Dock Brasil’s client portfolio, which reinforces the relationship between the two companies.

“We have a long-standing relationship with Dock Brasil. Now, it becomes part of OceanPact, maintaining its vocation as a repair shipyard and expanding our capacity to serve the market,” said Flavio Andrade, president of OceanPact.

“This acquisition will allow for business expansion, new investments, and a greater capacity to take advantage of opportunities in the naval sector. In the day-to-day operations of docking and repairs, nothing changes for our clients, partners, and employees,” says Carlos Boeckh, general director of Dock Brasil.

This deal comes several months after OceanPact and CBO agreed to combine their businesses. Once closed, the merged group will control a fleet of 73 vessels and generate annual revenues of more than $778m, with a combined backlog of around $2.7bn.

Source: Splash247

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