SOUTH Korea’s Hanwha Ocean is considering establishing a shipyard in Niterói, in the metropolitan area of Rio de Janeiro, to support local offshore projects for which it is bidding.

The plan was disclosed at a recent supplier‑networking event in Brazil focused on the oil, gas, energy and marine sectors, according to the Federation of Industries of the State of Rio de Janeiro.

The contract is reportedly in the final stages of negotiation, with construction, recruitment and partner agreements expected to start within 30-45 days.

“We are discussing partnerships with local Brazilian companies to meet local‑content requirements for our offshore business in Brazil, for which we are currently bidding,” a Hanwha Ocean official told Lloyd’s List.

Hanwha Ocean is participating in Petrobras’s P‑86 FPSO tender, launched in 2024, as the only South Korean contender. In 2021, when it was still operating as Daewoo Shipbuilding & Marine Engineering, the company secured a contract with Petrobras for the P‑79 FPSO in partnership with Saipem.

The shipbuilder has been expanding its offshore plant capabilities. In November 2024, Hanwha Ocean and Hanwha Aerospace acquired Singapore‑listed, Dyna-Mac Holdings, a topsides specialist, rebranding it as Hanwha Offshore Singapore in early 2025.

Hanwha’s proposed Brazil investment aligns with government initiatives. In May, the Brazilian government announced R$22bn ($3.9bn) in funding for 26 projects, including shipyard expansion and port infrastructure development.