ShippingWatch

Petrobras secures massive Danish credit

EKF, the Danish export credit agency, has now issued a credit worth millions to Brazilian oil giant Petrobras, which will help secure Danish companies a part in the country's growth, writes Danish newspaper Børsen.

Photo: Kjetil Alsvik/Statoil

USD 526.5 million EKF credit to Brazilian Petrobras will hopefully induce the oil giant to use Danish subcontractors in its futher ventures. In that way, the company won't have to worry about financing, writes Børsen. The credit marks the single largest guarantee issued to a single entity by EKF.

But EKF was not the one to spot the potential of Petrobras, says CEO of EKF, Anette Eberhard, to Børsen, rather, that would be the Danish companies. The state-owned oil company plans to invest USD 224 million globally from 2011 to 2015, and Danish companies have already gotten a piece of the pie, with orders for a total of USD 2.1 billion from the company so far.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Further reading

Related articles

Latest news

See all jobs