MOL & Petrobras in Newbuild Negotiations

SeaLoading Holding, a subsidiary of Mitsui O.S.K. Lines (MOL) that specializes in the ownership and operation of cargo transfer vessels (CTVs), has entered into a charter agreement with the Brazilian state-run oil behemoth, Petrobras, for the use of its CTV, SeaLoader 2.

The collaboration between SeaLoading and Petrobras initially began with a trial period for the SeaLoader 2 in January 2022, during which the vessel successfully conducted over 30 crude oil offloading operations from Petrobras’ Floating Production Storage and Offloading (FPSO) units situated in the Santos Basin. These operations included transferring oil to tankers of various sizes, up to Very Large Crude Carriers (VLCC).

Following the successful completion of the trial phase, which demonstrated the efficiency and dependability of the CTV technology, Petrobras proceeded to secure the SeaLoader 2 under a time charter contract. Additionally, both entities have agreed to a memorandum of understanding (MoU) to initiate discussions regarding the construction of a new CTV by the close of 2024.

Typically, the crude oil extracted from offshore fields by FPSOs is transported to onshore storage facilities or calm water locations for offloading to crude oil tankers. This process often involves the use of Dynamic Positioning (DP) shuttle tankers equipped with specialized cargo handling gear. However, with the introduction of CTVs like the SeaLoader 2, this process is significantly streamlined. CTVs enable direct transfer of crude oil from FPSOs to tankers, enhancing the logistical efficiency of crude oil transportation. SeaLoading owns both of the world's vessels equipped with this innovative technology and holds the patent for it.