08/31/20

The active fleet management plan implemented in the last year offered the opportunity to aggregate value to our business and to continue to seek the rank of best transportation and logistics company in the oil, gas and biofuel sectors in the country. This approach, aligned to the best industry practices, has been essential in view of worldwide technological advances and increasing demand for reduction of greenhouse gases. It calls for a constant assessment of the conditions of the vessels, considering the addition of new vessels according to market needs, as well as the sale of older vessels that do not fully meet current requirements.  Both processes are stipulated in Brazilian law.

Vessel sales

In the event of sales, the buyer is required to state if the vessel will be used, sold to another shipowner or recycled. The process is transparent, executed by electronic auction through the Petronect Portal. It is open to bids and widely divulged by the mainstream press in Brazil and internationally. The only requirement is that Brazilian or foreign companies wishing to participate register previously.

The vessels are sold with Transpetro liability certificates valid until the date of delivery, at which time the buyer assumes the vessel after submitting its own liability certificates.

If the buyer declares that it will send the vessel for recycling, it must meet the requirements of the Hong Kong Convention, created by the International Maritime Organization (IMO). This convention regulates the vessel recycling process and has as basic requirements an inventory of hazardous materials (IHM) and a recycling plan (SRP), in addition to certifying the shipyards that operate in this market segment. If the buyer indicates it will use the vessel or it will sell it to another shipowner, it is necessary to declare that the recycling will be executed according to the Hong Kong Convention requirements should this occur within a use period of less than two years.

In the last 30 days, Transpetro concluded the sale of four vessels (Grajaú, Dilya, Livramento and Maísa). There is no contractual obligation to offer a warranty or post-sale support to the buyer, however we are ready to collaborate with technical support upon request.

The addition of new vessels is also stipulated in our Strategic Plan. For this purpose, all possible existing modalities in the market are assessed.