South Korea’s Hanwha Ocean is evaluating plans to establish a new shipyard in Niterói, Rio de Janeiro, in response to Brazil’s growing demand for local content in offshore projects. Industry sources indicate the company is in discussions with potential Brazilian partners to align with requirements tied to Petrobras tenders.

A key factor in the move is the FPSO P-86 bidding process, where domestic participation is expected to weigh heavily in contract awards. Hanwha previously contributed to the FPSO P-79 in collaboration with Saipem, a project that highlighted the importance of integrating Brazilian suppliers and services into international partnerships.

The potential investment coincides with Brazil’s renewed push for industrial development. In May 2025, the federal government announced a BRL 22 billion program to revitalize shipyards and port infrastructure, creating favorable conditions for foreign shipbuilders considering local operations.

Details on the exact site remain unclear. While speculation has pointed to Estaleiro Mauá and surrounding port areas, no official confirmation has been issued. For now, Niterói is the only city explicitly cited. Further clarity is expected once concession agreements, environmental approvals, or municipal partnerships are announced.