Brazil’s shipping industry revival highlighted in Financial Times

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Under the leadership of Sergio Machado, Brazilian shipping industry has resurfaced and that too in a stronger stance. Its position is better than it has been in the last few decades. In fact, it wouldn’t be wrong to call it an overhaul of the industry. And at the helm of this turning of tables is Sergio Machado, President, Transpetro. Brazilian President Lula envisioned a strong shipping industry for Brazil and started the Program for Modernization and Expansion of the Fleet (Promef) of Transpetro. On the launch of 49 vessels made under this program, Transpetro, Naval industry and Brazil found its mention in the Financial Times, one of the world’s leading economic newspapers.

Before Promef came into being, the last order furnished by Petrobras was 23 years ago. By launching its first vessel titled Suezmax, Promef has confirmed the rebirth of Brazilian Naval Industry.

“In Brazil, we do not have the choice of whether or not to have ships. We have to choose whether they will be ours or not,” said the president of Transpetro, Sergio Machado.

In fact, the rebirth of the shipping sector is so expansive that from only 2,000 employees in year 2000, it now has a workforce of over 60,000 people. In the first 2 stages of Promef, Transpetro completed the bidding of 46 ships out of a total of 49 and 38 of these have already been hired. Since the revival of shipping industry has opened up a number of job options, there has been a spike in the number of Brazilians joining the workforce, hence contributing to the national economy. Participation of Asian companies in the creation of Brazilian shipyards is a proof that the shipping industry of Brazil has great prospects.

Last modified: February 15, 2016

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