Transpetro, the transportation arm of Brazilian oil company Petrobras, has suspended the purchase of 16 of the 24 oil tankers worth US$2.7 billion ordered from Estaleiro Atlântico Sul (EAS) (Atlântico Sul Shipyard) due to late delivery. The company ordered these vessels as part of its US$5.41 billion fleet-renovation programme but the first vessels delivered by EAS were nearly two years late. The contracts will remain suspended until EAS meets certain conditions, including finding a....

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