HHI to Take 10 Percent Stake of Brazilian Shipyard

Hyundai Heavy Industries Co., Ltd. (HHI), a South Korea-based shipbuilder, on Wednesday signed a deal on taking a 10 percent stake in OSX, a Brazil-based large shipyard. HHI signed a contract with OSX officials today in Rio de Janeiro and agreed to provide technical supports for construction of a shipyard at the state of Santa Catarina, according to local reports.
The shipyard is reportedly to build ships for exploration of natural gas and petroleum deposits on the sea-bed.
Reportedly, OSX is pleased with the deal with HHI that accounts for 10 percent of the global shipbuilding market as well as maintaining partnerships with Petrobras, Brazil`s state-run oil company, and Chevron, a multinational energy firm.
The Brazilian shipyard earlier said it has intention to buy a floating production, storage and offloading (FPSO) vessel from the Samsung Heavy Industries.
OSX is operated by OSX Brazil, an affiliate of EBX Group owned by Eike Batista, one of the richest men in Brazil.
EBX Group is running four business divisions: OSX (shipbuilding), OGX (energy), MMX (mining), and LLX (logistics).