Transpetro, the logistics subsidiary of Petrobras, has reportedly cancelled contracts for seven tankers being built at the Estaleiro Atlântico Sul (EAS) shipyard in Brazil.
The company’s orders for four suezmax and three aframax tankers have been cancelled, according to Brazilian press.
The existing contract with the shipyard was renegotiated as part of an extrajudicial agreement. Construction will continue for eight other vessels, comprising three suezmaxes and five aframaxes.
These vessels are scheduled for delivery in 2019. Work on three ships has reportedly already begun.
The orders were part of a 47-vessel fleet renewal scheme, in which Transpetro was to invest R$5.5bn ($1.69bn) in total.
Only 14 ships have been completed so far, and another 13 contracts were terminated due to technical faults.
