Petrobras scraps deals for three Ultrapetrol’s vessels

After early termination of contracts for World Wide Supply and Siem Offshore‘s vessels, Petrobras also terminated contracts for three Ultrapetrol’s platform supply vessels (PSVs). 

Namely, Ultrapetrol, an industrial transportation company serving marine transportation needs in river business, offshore supply business, and ocean business, announced Monday that it has received notification from Petrobras regarding the early termination of contracts for three of the company’s non-Brazilian flag PSVs, the UP Amber, UP Pearl, and UP Esmeralda.

“The company is exploring alternative courses of action to remedy the situation, including negotiations with Petrobras and employment in other offshore markets,” Ultrapetrol said in a statement issued Monday.

Ultrapetrol’s Offshore Supply Business continues to operate six PSVs with Petrobras under Brazilian flag or with Brazilian Special Registries (REB Rights).

Additionally, the non-Brazilian flagged RSV UP Coral has recently started a six-year contract to provide subsea support services to Petrobras, while the two laid-up North Sea vessels, UP Agate and UP Jasper, are currently participating in tenders to enter service with Petrobras as an RSV subsea support vessel and a PSV with REB Rights, respectively.

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