Brazilian Shipbuilding Industry
SINAVAL – Scene 2009 (1st Quarter)
Commitment to the mission:
Local jobs, local contents and technology
World outlook
Brazilian economy
Offshore investments
Shipbuilding market
Shipyards capacity
Ivens Consult
1
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Commitment to the mission:
Local jobs, local contents and technology
SINAVAL - Brazilian Union of Shipbuilding,
Shiprepair and Offshore Industries
Scene (perception):
A projection of information from a physical
environment
Ivens Consult
2
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
World outlook
World slower growth estimate: 1% in 2009
World trade: vigorous value above US$ 24
trillions in exports
Oil demand: up to 112.5 millions barrels per day
by 2030 (US Department of Energy)
Ivens Consult
3
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
World outlook
2003
2004
2005
4,0%
2007
2008 2009*
4,0%
3,5%
2,7%
2006
3,8%
2,5%
Slower
economic
growth
Source :
Unctad
1,0%
Ivens Consult
4
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
US$ trillions
Exports
World outlook
2003 2004 2005 2006 2007
World
7.5
9.1 10.4 12.1 13.8
Developed countries
4.9
5.8
6.3
7.1
8.1
Developing countries
2.4
3.0
3.7
4.5
5.2
World
7.7
9.4 10.7 12.3 14.0
Developed countries
5.3
6.3
7.1
6.0
8.9
Developing countries
2.5
2.8
3.4
3.9
4.6
Imports
Ivens Consult
Vigorous
trade
even
with lower
growth
rates
Source :
Unctad
5
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
World outlook – oil demand
World demand for petroleum:
2008 = 86.0 millions barrels of oil per day;
2015 = 95.6 millions barrels of oil per day;
2030 = 112.5 millions of oil per day in 2030.
Source: US Department of Energy (Energy Information Administration)
Ivens Consult
6
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian economy
2008 - International
Monetary Fund (IMF)
Brazil evaluation:
GDP – Gross Domestic Product
Year
US$
Growth
trillions
rate
• strong growth;
2004
1.9
5.7%
• implementation of
2005
2.1
3.2%
2006
2.3
4.0%
2007
2.5
5.1%
2008*
2.5
*2.0%
2009*
2.5
*0.5%
sound macroeconomic
policies;
* estimate
Ivens Consult
7
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian economy
2008 - International
Monetary Fund (IMF)
Brazil evaluation:
• reduction of public net
debt-to-GDP ratios;
• building of international
reserves.
Ivens Consult
International reserves
2000
2001
2002
2003
2004
2005
2006
2007
2008
33.011
35.866
37.823
49.296
52.935
53.799
85.839
180.334
193.783
8
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian economy
Trade surplus promoted the growth of
international reserves
Year
2007
2008
Exports Imports Surplus
160.6
120.6
40.0
197.9
173.1
24.8
US$ billions
Ivens Consult
9
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian economy
Imports
Exports
US$ bi
Part.
Part.
US$ bi
43.0
21.6%
Latin America
15.8%
27.4
27.4
13.8%
US
7.2%
25.6
5.5
2.8%
Western Europe
3.0%
5.3
46.3
23.4%
European Commun.
20.9%
36.1
37.4
18.9%
Asia
27.1%
47.1
8.0
4.0%
Middle West
3.6%
6.2
10.1
5.1%
Africa
9.1%
15.7
Ivens Consult
10
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
The ‘golden triangle’ of
deepwater, namely Africa, the
Gulf of Mexico and Brazil, will
account for nearly 75% of global
expenditure.
Ivens Consult
11
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
Latin American activity ( investments of
US$ 29 billion) is dominated by Brazil and,
given the potential of the country’s presalt
reserves, this is likely to remain the case
for some time.
Ivens Consult
12
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
E & P investments:
Ivens Consult
13
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
Royal Dutch
Shell
Ivens Consult
14
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
Shell portfolio:
BC-10 field to start
production operations
in 2009
BS-4 field in
exploration
Royal Dutch Shell
Ivens Consult
15
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
Ivens Consult
16
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
Frade oilfield in Brazil to
produce first oil in 2nd Q
2009
Chevron’s first subsea
development in Brazil and
FMC's most complete
scope for an overall
subsea system in Brazil
Ivens Consult
17
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
BG Group
developing oil &
gas fields at the
Santos basin
Ivens Consult
18
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
BG Group: three discoveries within
the BM-S-11 concession area.
Iara
Tupi
Tupi Sul
Concession stakeholders:
BG Group = 25%
Petrobras = 65%
Galp Energia = 10%
Ivens Consult
19
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian offshore outlook
OGX:
Four basins, 22 blocks.
Four drilling rigs hired to start
exploration in 2009.
Drilling program: 51 wells up to 2013
Appraisal of exploration blocks: 4.8 billions
barrels of oil equivalent (boe) of net risked
prospective resources, assuming an average
success probability of 27%;
Ivens Consult
20
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Petrobras Business Plan 2009 - 2013
Petrobras
Global
E&P
scene
Ivens Consult
21
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Petrobras Business Plan 2009 - 2013
Investments of US$ 47.9 billions
are 77% in E & P
Ivens Consult
22
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Petrobras Business Plan 2009 - 2013
Petrobras local
content policy
Ivens Consult
23
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Petrobras Business Plan 2009 - 2013
Ivens Consult
24
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding market
Program
order
Tankers for Transpetro
Quant. / type
TWD
millions
status
Promef I
23 tankers
2.7
Promef II
23 tankers
1.3 Hiring in process
46 tankers
4.0
Total
Ivens Consult
Hired
25
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding market
E&P equipments for Petrobras
Order
Quant. / type
Operation field
Production
2 semi-subs
Campos Basin
platform
P-55 P-55 – Roncador
P-56 P-56 – Marlim Sul
Platform
1 fixed
Mexilhão
platform for
gas
production
Total
3
Ivens Consult
status
Hired
Hired
26
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding market
E&P equipments for Petrobras
Order
Quant. / type
Operation field
Platforms
8 new
P-57 – Jubarte
& FPSOs
platforms P-61 and P 63 –
planned
Papa-Terra
P-62 – Roncador
other four on
design
Drill-ships
28
Depths over
2,000 m
Total
36
Ivens Consult
status
Ready to
start bids
Planned
Bids on
2013
27
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding market
Ships for contract service for Petrobras
Order
Quant.
TWB
status
VLCC tankers
2 ships
600,000 Hired / under
(300,000 TDW
construction
each)
Supply
146 ships
292,000
Hiring in
vessels
(2,000 TWB
process
each)
Total
148 ships
892,000
Ivens Consult
28
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding market
Promef I – tankers for Transpetro (hired)
Shipyard
Type of construction
EAS – Estaleiro
Atlântico Sul
10 Suezmax
EAS
5 Aframax
November 2008
EISA
4 Panamax
December 2008
Mauá
4 products
November 2007
Ivens Consult
Contract date
January 2007
29
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding market
Promef II – tankers for Transpetro (hiring)
Lot A – 20 ships
Type of construction
Lot 1
4 Suezmax (DP – Dinamic Positioning)
Lot 2
3 Aframax (DP)
Lot 3
3 light products ships (45,000 metric tons)
Lot 4
5 ships (3 light, 2 dark products - 30,000
metric tons)
Lot 5
2 semi-pressure and gas tankers (12,000 m3)
Lot 6
3 pressure gas tankers (4,000 m3)
Lot B – 3 ships
3 bunker ships
Ivens Consult
30
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Conclusions
Brazilian Economy
• Sound macroeconomic practices.
• International trade is only 15% of
GDP – room for growth and expand
merchant fleet.
• High International reserves assure
financing for main projetcts.
Ivens Consult
31
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Conclusions
Brazilian shipbuilding market
Financing is assured:
Marine Merchant Fund (FMM), under the
Ministry of Transports, assures financing
for shipbulding.
US$ 10.5 billions financing alocations
since 2003.
Ivens Consult
32
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Conclusions
Brazilian shipbuilding market
Shipyards orderbook
(hired and planned):
4.8 millions TDW up to 2015.
Ivens Consult
33
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Conclusions
Brazilian offshore market
Douglas Westford sees Brazil
pre-salt discoveries as the largest
in the world, now.
All major oil & gas companies are
engaged in E&P investiments.
Ivens Consult
34
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Conclusions
Brazilian domestic oil production
2007
2008
2009
2013
2020
3.9
2.6
2.0
1.8
1.8
source: Petrobras - millions b/day
Ivens Consult
35
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
28
Shipyards in Brazil - largest
yards
Ivens Consult
570,000 tons / year
Steel throughput
4.7 millions of m²
Total area
19
Dry or floating docks
22
Slipways
43
Outfitting quays
36
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Projects types
Shipyards
FPSO, semisubmersible, modules
and drill-ships
BrasFels; Mauá; Atlântico Sul; Rio Grande;
QUIP; UTC; SRD; Setal; Mac Laren; Estaleiro
da Bahia
Oil tankers, products
and gas carriers
Eisa; Atlântico Sul; Mauá; Sermetal; Itajaí;
Rio Nave; Renave-Enavi
Container ships and
bulk carriers
Eisa; Atlântico Sul; Mauá; Rio Naval; Itajaí;
Rio Nave; Renave-Enavi
Platform supply
vessels, towboats,
barges, flatboats, etc.
STX; Aliança; Wilson, Sons; Navship; TWB;
Detroit; Inace; Rio Maguari; Superpesa;
Cassinú; Transnave; São Miguel; Estaleiro da
Bahia
Ivens Consult
37
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Shipyards
State
Steel
(thousand
tons / year)
Area
(thousand
m²)
Docks
Slipways
Quay
side
BrasFels
RJ
50
410
1
3
2
Eisa
RJ
50
150
-
2
1
Mauá
RJ
40
334
1
1
4
Sermetal
RJ
60
400
1
-
4
Atlântico Sul
PE
160
1,500
1
2
2
Rio Grande
RS
30
100
1
1
1
Aker
RJ
15
120
1
1
1
Aliança
RJ
10
61
-
1
2
Ivens Consult
38
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Shipyards
State
Steel
(thousand
tons / year)
Area
(thousand
m²)
Docks
Slipways
Quay
side
Wilson, Sons
SP
10
22
1
1
1
UTC
RJ
-
112
--
-
2
Renave-Enavi
RJ
40
200
4
-
1
Inace
CE
15
180
-
1
1
Itajaí
SC
15
177
-
1
1
SRD
RJ
15
85
1
1
2
Superpesa
RJ
10
96
-
-
1
São Miguel
RJ
5
21
-
1
2
Transnave
RJ
6
15
-
1
1
Ivens Consult
39
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Shipyards
State
Steel
(thousand
tons / year)
Area
(thousand
m²)
Docks
Slipways
Quay
side
Rio Nave
RJ
50
150
-
2
4
Navship
SC
15
175
--
1
2
TWB
SC
10
78
-
1
1
Detroit
SC
10
90
-
1
1
Rio Maguari
PA
6
120
2
-
-
Cassinú
RJ
6
30
2
-
1
Mac Laren
RJ
6
30
-
-
1
Estaleiro da
Bahia
BA
110
750
1
1
2
QUIP
RS
-
70
-
-
1
40
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
BrasFels shipyard
Rio de Janeiro – RJ
Ships up to 600,000 TDW
Semi-submersible platforms
FPSO integration
Platform supply vessels
Steel throughput :
50,000 tons / year
Total area: 410,000m²
3 Slipways
1 Dry dock
1 Gantry crane for 660 tons
7 Cranes
2 Outfitting quays
Ivens Consult
41
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
EISA - Ilha S/A shipyard
Rio de Janeiro – RJ
Ships up to 200,000 TDW
Platform supply vessels
Steel throughput :
52,000 tons / year
Total area: 150,000m²
2 Side slipway
15 Rolling bridges
2 Gantry cranes for 50 tons
6 Cranes
3 Outfitting quays
Ivens Consult
42
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Mauá shipyard
Niterói – RJ
Ships up to 100,000 TDW
Semi-submersible platforms
FPSO integration
Platform supply vessels
Total area: 334,000m² (3 units)
1 Slipway
1 Modules site
1 Yard / load-out quay
1 Dry dock
1 Sheerlegs for 2,000 tons
6 Cranes
4 Outfitting quays
Ivens Consult
Steel throughput :
36,000 tons / year
43
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Sermetal shipyard
Rio de Janeiro – RJ
Steel throughput :
60,000 tons / year
Ships up to 400,000 TDW
FPSO integration
Total area: 400,000m²
2 Dry dock (1 with 350m)
6 Cranes
4 Outfitting quays
Ivens Consult
44
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Atlântico Sul shipyard
Suape – PE
Ships up to 500,000 TDW
Semi-submersible platforms
FPSO integration
Platform supply vessels
Total area: 1,500,000m²
1 Dry dock of 400m
2 Slipways
4 Cranes
2 horizontal transporters blocks – 300
tons
2 Goliath Gantry cranes (1,500 tons)
2 Outfitting quays (700m)
Ivens Consult
Steel throughput :
160,000 tons / year
45
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Setal Óleo & Gás
Niterói – RJ
Platforms modules
construction and integration
Ivens Consult
46
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
BAHIA shipyard (OAS, SETAL and Piemont)
Maragogipe - BA
Semi-submersible platforms
FPSO integration
Offshore vessels (PSV & AHTS )
Steel throughput :
110,000 tons/ year
Total area: 1,000,000m²
Gantry crane of 1,300 tons
Dry dock with two floating gates
Several port cranes (75 to 150 tons)
Horizontal transport of loads with 600
tons of capacity.
Outfitting quays : 700m and 350m
(water depth: 12m).
47
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Rio Grande shipyard
Rio Grande – RS
Platforms (FPSO,
semi-submersible and Spar)
Steel throughput :
30,000 tons / year
Total area: 100,000m²
1 Dry dock (130x140m)
1 Slipway
1 Gantry crane for 600 tons
1 Outfitting quay
Hydraulic carts of 400 tons
Intermediate flood-gate
Ivens Consult
48
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
STX Offshore shipyard
Niterói - RJ
Platform supply vessels
Steel throughput :
15,000 tons / year
Total area: 120,000m²
1 Flotation dock (150m x 24.7m)
Cranes (up to 250 tons)
1 Slipway
1 Outfitting quay (300m)
Ivens Consult
49
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Aliança shipyard
Niterói - RJ
Steel throughput :
10,000 tons / year
Platform supply vessel
Total area: 61,000m²
Cranes (up to 60 tons)
2 Outfitting quays (100m each)
1 Slipway
(3,000 tons /10,000 TDW)
Ivens Consult
50
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Wilson, Sons shipyard
Guarujá - SP
Steel throughput :
10,000 tons / year
Platform supply vessels
Total area: 22,000m²
Cranes and Gantry crane
1 Outfitting quay
1 Slipway
1 Dry dock (205m x16m)
Ivens Consult
51
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
UTC shipyard
Niterói - RJ
Assembly and integration of
platform modules
Total area: 112,000m²
Cranes
2 Load-out quays
Ivens Consult
52
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Renave-Enavi shipyard
Niterói - RJ
Ships up to 80,000 DWT.
Steel throughput :
40,000 tons / year
Total area: 200,000m²
Cranes
Outfitting quays
2 Flotation docks
“Almirante Alexandrino” (215m )
“José Rebelo” (70m)
2 Dry docks
“Henrique Lage” (184m )
“Orlando Barbosa” (136m)
Ivens Consult
53
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Inace shipyard
Fortaleza - CE
Steel throughput :
15,000 tons / year
Fishing ships
Patrol ships for Navy
Yatches
Platform supply vessels
Area: 180,000m²
1 Slipway / platform
embarkation elevation
(80m)
1 Outfitting quay
Ivens Consult
54
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Itajaí shipyard
Itajaí - SC
Steel throughput :
15,000 tons / year
Ships (up to 30,000 TDW)
Platform supply vessels
Total area: 177,000m²
Cranes
Rolling bridges
Slipway (200m)
Outfitting quay
Ivens Consult
55
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
SRD shipyard
Brazilian shipbuilding capacity
Angra dos Reis - RJ
Steel throughput :
15,000 tons / year
Semi-submersible platforms
Integration and load-out
Platform supply vessels
Total area: 85,000m²
Cranes
Rolling bridges
Slipway
Floating dock (76m x 29m)
2 Outfitting quays
Ivens Consult
56
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Superpesa shipyard
Rio de Janeiro - RJ
Steel throughput :
10,000 tons / year
Platform supply vessels
Area: 96,000m²
1 Slipway
1 Outfitting quay
Ivens Consult
57
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Transnave shipyard
Rio de Janeiro - RJ
Steel throughput :
6,000 tons / year
Platform supply vessels
Total area: 15,000m²
Slipway
Outfitting quay
Ivens Consult
58
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Rio Nave shipyard
Rio de Janeiro - RJ
Merchant ships (up to 100,000 TDW)
Platform supply vessels
Steel throughput :
48,000 tons / year
Total area: 95,000m²
2 slipways
4 Outfitting quays
2 Piers
15 Cranes
Ivens Consult
59
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Navship shipyard
Itajaí - SC
Merchant ships (up to 100,000 TDW)
Platform supply vessels
Steel throughput :
15,000 tons/ year
Total area: 175,000m²
1 Slipway
2 Outfitting quays
Cranes and Gantry crane
Ivens Consult
60
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
TWB shipyard
Brazilian shipbuilding capacity
Itajaí - SC
Platform supply vessels
Towboats (port support)
Fishing ships
Ferry-boats
Steel throughput :
10,000 tons / year
Total area: 78,000m²
1 Slipway
1 Outfitting quay
Ivens Consult
61
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Detroit shipyard
Itajaí - SC
Platform supply vessels
Towboats (port support)
Fishing ships
Ferry-boats
Steel throughput :
10,000 tons / year
Total area: 90,000m²
1 Elevatory dock
Outfitting quay
3 Cranes
2 Transfer cars
Ivens Consult
62
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Rio Maguari shipyard
Belém – PA
Ships for waterway navigation,
utility offshore tugs and barges
Platform supply vessels
Steel throughput :
6,000 tons / year
Total area: 120,000m²
2 Dry docks
Ivens Consult
63
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Cassinú shipyard
São Gonçalo – RJ
Platform supply vessels
Steel throughput :
6,000 tons / year
Total area: 30,000m²
1 Dry dock
1 Flotation dock
1 Outfitting quay
Ivens Consult
64
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
Mac Laren shipyard
Niterói – RJ
Steel throughput :
6,000 tons / year
Platforms integration
Total area: 30,000m²
1 Outfitting quay
1 Dry dock (planned)
Ivens Consult
65
Brazilian Shipbuilding Industry
SINAVAL – Scene 2009
Brazilian shipbuilding capacity
QUIP
Rio Grande – RS
Platforms modules construction
and integration
Total area: 70,000m²
Ivens Consult
66
Brazilian Shipbuilding Industry
SINAVAL
Av. Churchill, 94, 2º andar – Conj. 210 a 215 – CEP 20020-050 – Rio de Janeiro, RJ
Tel.: (21) 2532-4878/2533-4568 – Fax: (21) 2532-4705/2533-5310
www.sinaval.org.br
Contact: [email protected] / [email protected]
Strategic Communication Consultancy
Ivens Consult / Ivan Leão – www.ivens.inf.br
67