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Watching The World: Any port in a storm

06/28/2010
By Eric Watkins
Japanese containership operators are taking advantage of their seamanship to enter the offshore oil and gas industry, setting sail in particular for Brazil's presalt layer.Japanese firms are providing Brazil's industry with floating production platforms instead of ships, with Nippon Yusen KK partnering with Itochu Corp. to build and operate a rig that will produce crude from 2,000 m below the seabed.That's just one of several projects that are expected to generate ¥340 billion in revenues over a 20-year period, starting in 2013. Another involves Mitsui OSK Lines Ltd., which will lease a floating oil rig to Brazil's Petroleo Brasileiro SA (Petrobras).The move into oil and gas comes as ...
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