Wilson Sons Ultratug Offshore renegotiating PSV contracts with Petrobras

Wilson Sons Ultratug Offshore could have up to eight platform supply contracts with Petrobras temporarily suspended.

The company is is a joint venture between the Brazilian shipbuilding company, Wilson Sons and Chilean services provider Ultramar.

According to Wilson Sons, the JV is negotiating new contract terms for up to eight Platform Supply Vessels (PSVs) currently operating for Petrobras.

The negotiation will consider the temporary suspension of these contracts due to current suppressed demand, with the original contract term extended by a period equal to the suspension, and a reduction of the vessels’ daily rates.

The negotiation contemplates a total estimated reduction of approximately 6% on the fleet average gross daily rate and up to 858 days of suspension for all the vessels combined.

“The company continues to seek new opportunities to maximize its fleet utilisation. In July 2017, WSUT (Wilson Sons Ultratug Offshore) ranked as the first and second place Brazilian-flag vessels in a Petrobras tender for the supply of shallow-water diving support vessels (SDSVs), offering the Mandrião and Pardela vessels. Additionally, in September 2017, WSUT ranked as the first and second place vessels in a Petrobras tender to provide, in May 2018, platform support and oil spill recovery vessels (OSRV / PSVs), offering the Albatroz and Gaivota vessels,” the company said

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