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Reporting and curation by Westhon Media
WSB hosts first happy hour of 2026
On March 26, WSB Advisors hosted its first happy hour of 2026 at the company’s rooftop in downtown Rio de Janeiro, gathering around 40 executives and professionals from the offshore sector. The event brought together clients, partners and industry peers, with strong participation from shipowners, providing an opportunity to exchange views on current market dynamics […]
Por onde anda? Astro Tupi
Where is she now? — Atlas Z (ex-Astro Tupi): One Vessel, Two Structures By WSB Advisors Much like the recent case of Astro CMT Matos—reborn as Seastar Virtus while raising unresolved questions around overlapping commercial and registry positioning—another case involving Astromaritima – em Recuperação Judicial now comes into focus. This time, the vessel is the […]
ODN I at Petrobras
Foresea has secured a long-term contract with Petrobras to operate the drillship ODN I offshore Brazil, adding about $465 million to its backlog. The agreement covers a 1,443-day campaign in the Mero Field, with operations expected to start in 2027 after the unit’s current contract ends. The deal includes early termination and extension options. The […]
Petrobras: oil discovery
Petrobras announced a new discovery of high-quality oil in the pre-salt layer of the Campos Basin. The find was made in the Marlim Sul Field, at a well located 113 km off the coast of Campos dos Goytacazes. The presence of oil was identified through electric logs and fluid samples. The material will undergo laboratory […]
Brazil’s offshore licensing process has just hit a new level of scrutiny
A Federal Court in Angra dos Reis has ordered the suspension of the preliminary environmental license (LP) granted by IBAMA for the “Stage 4” development in the Santos Basin, following a request from the Federal Public Ministry (MPF). The injunction is based on the alleged absence of prior consultation with traditional communities, including Indigenous groups, […]
Equinor starts drilling at Raia offshore gas project
On March 24, 2026, Equinor initiated drilling activities for the Raia offshore gas project in the Campos Basin. The development, estimated at around US$9 billion, is expected to begin production in 2028, with projected output of approximately 16 million cubic meters of gas per day and 126,000 barrels per day of oil and condensate. The […]
BR Offshore launches foundation stone for new operational base
BR Offshore announced the launch of the foundation stone for a new operational base in Brazil, marking the start of a new infrastructure phase to support offshore operations.The development aligns with the company’s expansion strategy in offshore logistics and aims to strengthen operational capacity for ongoing and upcoming campaigns in Brazilian waters.
CDFMM extends priority status for Transpetro tanker projects
Brazil’s Merchant Marine Fund Council (CDFMM) approved the extension of priority status for Transpetro tanker construction projects. The resolution was published on March 19, 2026, on an ad referendum basis and will remain valid for 180 days. The measure ensures additional time for project structuring and financing access under the FMM framework, supporting fleet renewal […]
Equinor acquires 230 MW onshore wind project in Brazil
Equinor acquired the Esquina do Vento onshore wind complex, with 230 MW of installed capacity, located in Rio Grande do Norte. The asset was purchased from Vestas and is ready for construction, expected to begin in Q2 2026, with commercial operation planned for 2028. The project will include 51 wind turbines and an estimated annual […]
Por onde anda? Milan Tide — The Resurrection (and the Registry Puzzle)
By WSB Advisors The return of Milan Tide, now Seastar Virtus, should have been a straightforward story: a well-built PSV, revived, reintroduced and ready to operate again. It turns out the story is not quite that simple. Following our publication, Astromarítima Navegação S.A. – em Recuperação Judicial approached us demanding the rectification of a specific […]
Brazil’s FMM approves R$ 6 Billion across Naval and Port Projects
Brazil’s Ministry of Ports and Airports (MPor), through the Merchant Marine Fund Directing Council (CDFMM), approved a package of 13 projects totalling R$ 6 billion in investments at its 62nd Ordinary Meeting, held on March 18. The approved portfolio is expected to generate approximately 2,800 direct jobs and enable 95 projects across the naval and […]
Open Tenders and more
By Maria Eduarda Camba OPEN TENDERS — Market Status Update No changes were recorded across ongoing offshore tenders. Current opportunities remain active under previously disclosed terms and deadlines. What has changed? – No updates. What else is happening? – Petrobras is monitoring fuel supply dynamics after at least six vessels carrying refined fuels changed destination, […]
WSB Advisors – 10.000 followers on Linkedin
Hitting 10,000 followers is easy. Building 10,000 relevant followers — in a niche, technical, and relationship-driven industry — is something else. We’ve just passed this milestone on LinkedIn. A fully organic, highly segmented audience, built with consistency and attention to what this market actually values: reliable information, technical depth, and real insight. At WSB Advisors, […]
Por onde anda? Varada Santos
By WSB Advisors She lies in Guanabara Bay, in plain sight, yet increasingly difficult to explain. Anyone navigating toward Niterói will recognize the outline: the hull of Varada Santos, still, without visible activity, without a flag, without any declared purpose. A formerly working offshore vessel, designed for constant operation, now reduced to a static presence—silent, […]
Buying High, Selling Low? Not Quite – The Hidden Economics of Petrobras and PETRONAS
By WSB Advisors Team There is a certain seduction in simple narratives. Petrobras sold a 50% stake in Tartaruga Verde and the Module III of Espadarte to PETRONAS in 2019 for roughly US$1.2 billion. Six years later, it is buying that same stake back for approximately US$450 million. The conclusion, widely circulated in market commentary, […]
PRIO – Approved to Drill at Frade
PRIO reported that it has received from Ibama an amended drilling license for the Frade Field. With this authorization, the company will be able to drill up to 14 new wells in the asset, located in the Campos Basin. The operation is expected to be carried out using the offshore drilling unit Hunter Queen, capable […]
Special WSB: Que fim levou? WSUT
By Alexandre Vilela Discipline Meets OpportunityTidewater’s move in Brazil and what it reveals about the offshore cycle Brazil’s offshore sector has entered a new phase of consolidation. Within days of OceanPact and CBO announcing their combination, Tidewater moved to acquire Wilson Sons Ultratug Offshore (WSUT), a transaction valued at approximately $500 million including debt. The […]
Tartaruga Verde: Petrobras, Brava and Petronas
Petrobras announced the acquisition of the 50% stake held by Petronas in the Tartaruga Verde and Espadarte fields, located in the Campos Basin, for US$450 million. As a result, the company will hold 100% ownership of the assets and remain the operator. The deal effectively represents a buyback. In 2019, Petrobras sold the same stake […]
Oceânica secures US$736 million Petrobras contracts
Oceânica Engenharia has signed a series of subsea service contracts with Petrobras totaling approximately US$736 million, according to company disclosures. Agreements have a four-year duration, with offshore operations expected to begin in the first half of 2027 and extend through 2031. Contracts include renewal of charter agreements for several vessels in Oceânica’s diving support fleet, […]
Open tenders & More
WSB Advisors OPEN TENDERS — Updates WSB is pleased to provide an update on the current long-term tenders that are open to offer.What has changed?Petrobras At least 1x FSC 10: Opportunity 7004536339, new deadline March 17th, 2026Petrobras Up to 4x SOVs: Opportunity 7004563745, new deadline March 25th, 2026 What else is happening? – Norbe IX has departed […]
WSB Advisors Attends Metizoft Workshop on Energy Transition and Maritime Regulations
Event brought together naval sector executives at Fogo de Chão in Botafogo to discuss decarbonization, geopolitics, and new IMO requirements On the evening of March 12th, WSB Advisors was present at the workshop “Promoting a Sustainable Transition for Shipowners and Charterers: Metizoft PowerSave and Strategic Alignment with New Maritime Sector Regulations,” hosted by Vitor Máximo of Norwegian company Metizoft. […]
Norbe IX leaves Angra dos Reis
The ultra-deepwater drillship Norbe IX has departed its anchorage position off Angra dos Reis, Rio de Janeiro, ahead of the start of a three-year drilling contract valued at approximately US$417 million with Petrobras, according to an official statement released by Foresea. Operations are scheduled to begin in early 2026 in Brazil’s pre-salt province. The unit […]
Camorim behind the world’s largest New Year’s eve
In the last day of 2025, Copacabana’s New Year’s Eve celebration in Rio de Janeiro entered the Guinness Book of Records as the largest in the world. The spectacle held along Brazil’s most iconic beachfront brought together around 2.6 million people and featured Camorim as a key player in the complex fireworks operation. Responsible for […]
Por onde anda? Metaltanque II
Built in February 1963 by Fujinagata Shipyard in Japan, the vessel originally named Petrobras Oeste was designed with a clear mission: transport LPG along Brazilian waters. Powered by a B&W engine, with approximately 4,323 DWT and IMO 5407784, it was part of Petrobras’ fleet at a time when Brazil was beginning to build its own […]
TotalEnergies starts up Lapa South-West project in Brazil
TotalEnergies announced start-up of the Lapa South-West project, located in Santos Basin about 300 kilometers offshore Brazil. Development includes three subsea wells tied back to FPSO Cidade de Caraguatatuba, production unit currently operating in Lapa Field. With an estimated investment of around US$1 billion, project is expected to increase field output by 25,000 barrels of […]