Brazil approves record investment in shipbuilding, ports

The Brazilian government has approved its largest single investment yet – R$22.0Bn (US$3.9Bn) – for 26 projects for the construction of newbuilds, repairs, vessel retrofits, shipyard expansion and new port infrastructure.

The financing was approved at a meeting on 6 May of the board of directors of the Merchant Navy Fund of the Ministry of Ports and Airports.

“We are breaking another record with the approval of this large volume of investments to leverage and strengthen the naval industry and the waterway sector,” said Ports and Airports Minister, Silvio Costa Filho. “This shows that the federal government has once again prioritised this sector, which is essential for the country’s development. During President Lula’s administration, we have already approved more than R$60.0Bn (US$10.6Bn) in modernisation and construction projects in the naval sector,” he said.

New ROV support vessels

Among the approved shipbuilding projects are Petrobras’ request for the construction of eight liquefied petroleum gas (LPG) tankers, worth R$4.1Bn (US$723M), and the DOF Subsea Brasil Serviços project for the construction of four ROV support vessels (RSVs), worth R$3.2Bn (US$564M).

Approved infrastructure projects include the modernisation of the Green Port shipyard in Niterói (RJ), worth R$242M (US$43M), the construction of an iron ore export terminal for Cedro Participações, in Itaguaí (RJ), part of the 2024 port lease bidding portfolio of the Ministry of Ports and Airports, worth R$3.9Bn (US$688M); and the modernisation of Tecon Rio Grande, in the state of Rio Grande do Sul, worth R$533M (US$94M).

This was the council’s first meeting of 2025 and there will be three more meetings in 2025. Of the total approved, R$15.4Bn (US$2.7Bn) refers to 19 new projects and R$6.7Bn (US$1.2Bn) in resubmitted projects.

Silvio Costa Filho (Brazilian Ports and Airports Minister): “We are breaking another record with the approval of this large volume of investments”

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