South Korea’s Hanwha Ocean, one of the world’s leading shipbuilders, is weighing the establishment of a shipyard in Niterói, Rio de Janeiro. According to industry reports, the company is in talks with local partners to meet content requirements tied to Petrobras projects.
Among the drivers behind this move is Petrobras’ ongoing tender for the FPSO P-86, where local content is a decisive factor. Hanwha also played a role in the construction of the FPSO P-79 in partnership with Saipem. The company has signaled its intention to not only build but also integrate Brazilian suppliers and services into its operations.
The announcement comes as Brazil is stepping up its industrial policy. In May, the federal government unveiled a BRL 22 billion package aimed at revitalizing shipyards and port infrastructure, creating favorable conditions for new entrants.
What remains unconfirmed is the precise location of the shipyard. While market speculation points to sites such as Estaleiro Mauá or nearby port areas, no official source has validated a specific site. For now, Niterói is the only city formally mentioned. Upcoming announcements on concession contracts, environmental licensing or partnerships with local authorities are expected to shed light on the project’s direction.
What will be the next steps? Place your bets.
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