LatinNews Daily - 21 January 2026

*Brazil’s President Luiz Inácio Lula da Silva has announced that the government will invest R$2.8bn (US$520m) in contracts to build 41 new ships for the state-controlled oil company Petrobras. The new contracts are for the construction of five gas carriers, 18 tugboats, and 18 barges. The announcement of the contracts was made at a ceremony in the southern state of Rio Grande do Sul, which was also attended by Petrobras CEO Magda Chambriard, who highlighted the benefits of the investment for the local shipbuilding industry. She said that the new vessels will be operated by Petrobras’ oil and gas transportation subsidiary, Transpetro, and will be built in shipyards across three states – Rio Grande do Sul, the northern state of Amazonas, and the southern state of Santa Catarina. Chambriard also said that the first of the new vessels is expected to be ready by July this year.