Danish shipping company gains major contract with Brazil's Petrobras  

2008.04.22
J. Lauritzen has gained a USD 265m contract with the Brazilian oil company Petrobras to transport oil in shuttle tankers from oil rigs to Brazilian ports
Danish shipping company J. Lauritzen, a leading supplier of ocean transport solutions for almost 125 years, has gained a USD 265m contract with the Brazilian oil company Petrobras to transport oil in shuttle tankers from oil rigs to Brazilian ports, writes financial daily newspaper Børsen. The operation of shuttle tankers over relatively short distances is a new business area to J. Lauritzen, and the company is investing DKK 700m (USD 149m) in two new ships from a Chinese shipyard.
 
Torben Janholt, managing director of J. Lauritzen, says to Børsen that Brazilian President Lula da Silva's visit to Denmark last year helped pave the way for the contract. "I had the opportunity to meet President Lula and his delegation, where I met Petrobras' managing director and had the opportunity to tell him what we do. I am sure that influenced gaining the contract. And it is a pleasure when official visits of that kind can directly or indirectly lead to new business for Danish companies."
 
"We think our timing is good because there is increasing demand in a strong market. There is a lot of oil exploration at sea these days because of high oil prices, and because the resources are limited," says Janholt.
 
J. Lauritzen's business activities comprise Lauritzen Bulkers (dry bulk cargoes), Lauritzen Kosan (liquefied gases) and Lauritzen Tankers (oil products and chemicals). In 2007, the shipping company generated its best ever result with profits of USD 352m.
 
Link > J. Lauritzen   

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