Transpetro inks $427m MR1 tanker order

Transpetro, the logistics arm of Petrobras, has signed a $427 million contract with Estaleiro Rio Grande for four MR1 oil tankers as part of Petrobras' Mar Aberto program. These 40,000 dwt vessels will transport oil and petroleum products along Brazil's coast, aiming to renew and expand the state-controlled fleet.