S.Korean shipyards to share Petrobras deals-STX

Shipbuilding and shipping conglomerate STX on Thursday said it expected top South Korean shipyards to jointly win offshore project orders from Brazil's Petrobras, a major opportunity for the downturn-hit shipbuilding sector. Leading domestic shipbuilders will share the Petrobras projects as the orders are too large for any single company to handle, said Kang Duk-soo, chairman of STX Corp
Kang's comments, made at a local business event, were confirmed by a company spokesman.
Petrobras Brazil's state-run oil company, is expected to soon issue large tenders for offshore oil development vessels, including drillships and floating product storage and offloading units.
In April, Petrobras executives visited South Korea and held individual meetings with shipbuilders on vessel orders worth a totoal $25 billion-$30 billion. Of the total, $15 billion would be for drillships and semi-submersibles to be awarded this year.
Korean shipmakers in talks with Petrobras include Hyundai Heavy Industries), Samsung Heavy Industries Daewoo Shipbuilding and Marine Engineering and STX Offshore & Shipbuilding -- the world's four largest shipyards.
Separately, Kang said STX Group's shipping unit STX Pan Ocean was likley to post a profit in 2009, after a turnaround in the second half.
Shipping companies including STX Pan Ocean, the world's No.5 dry bulk carrier, have suffered from low freight rates and weak global trade amid the economic downturn.