OceanPact and CBO have agreed to combine their businesses through a corporate restructuring that will integrate CBO’s holding company into OceanPact, subject to regulatory and shareholder approvals. The merged entity is expected to operate a fleet of 73 vessels with annual revenue exceeding USD 778 million and a backlog of USD 2.7 billion.
OceanPact and CBO have announced plans to merge their operations through the incorporation of CBO’s holding company into OceanPact, according to a regulatory disclosure. Completion of the transaction remains contingent on approval from Brazil’s antitrust authority CADE, along with shareholder consent and creditor approvals typically required for transactions of this scale.
Following completion, the combined company is expected to operate a fleet of 73 vessels and generate annual revenue exceeding USD 778 million, supported by a contract backlog of approximately USD 2.7 billion. The consolidation aims to integrate complementary maritime assets and expand operational capacity while improving fleet deployment and service coverage across offshore support activities.
OceanPact is a Brazil-based provider of environmental, subsea, and offshore support services to the energy and maritime sectors. Companhia Brasileira de Offshore (CBO) operates offshore support vessels serving oil and gas exploration and production activities, primarily in Brazilian waters.
Industry observers view the integration as part of a broader consolidation trend within the offshore services market, where operators are seeking scale to address volatile demand from the oil and gas sector and to manage rising capital requirements for specialized vessels. A larger and more diversified fleet may allow the combined entity to optimize asset utilization, reduce average vessel age, and diversify its client base.
The transaction will also introduce a new governance structure led by CEO Flavio Andrade and supported by representatives from infrastructure investors Vinci Compass, Patria Infrastructure funds, and BNDESPar. For energy companies, offshore contractors, and maritime service providers operating in Brazil, the merger could reshape competitive dynamics by creating a more integrated provider of offshore logistics and support services.
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