Rio Grande shipyard hired to repair three ships in big step toward financial rehabilitation

The Ecovix Group has taken another step toward the recovery of the Rio Grande Shipyard. Three new ships arrived at the facility for repairs last weekend. The vessels will stay there for about 20 days for services like docking, treatment, painting, mechanics, and boilermaking.

Around 150 jobs will be created in Rio Grande as a result of the shipyard activities, with the hiring of local labor, as well as increased movement in the local hotel and food industry as professionals arrive from other parts of the country and abroad. The services will be provided in collaboration with DockBrasil, which has previously collaborated with Ecovix on other ship repair projects.

The ships that arrived in Rio Grande are the Argentine Cabo Pilar, an Antares Naviera oil tanker, and two fishing vessels: the Chinese LQVY 279 from Quing Dao Yang Ocean Fishery and the Spanish Jose Antonio Nores from the Nores Group.

The vessels arrived in a week in which the Ecovix Group celebrated an important advance in its court-oriented restructuring process. The group settled credits with 130 companies in class IV, formed by micro and small companies. In addition, rem guarantees (class II) have already been paid, and no other class debts are pending.

Laurence Medeiros of Medeiros Administração Judicial, the trustee, stressed the importance and complexity of the process. “There were great steps taken in the last five years since the bankruptcy protection plan was approved. [Settling some of the debt] ensures legal security to the company, creditors, and the process of resuming naval operations,” the lawyer said.

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