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IHI Corporation has purchased a 25% stake in Brazilian yard Estaleiro Atlantico Sul (EAS) for BRL201m ($94m).

The Brazilian Congress approved last week a port reform bill that will open the door to private capital and boost investments in ports by $27bn.

Port workers in Santos, the largest port of South America, and Rio de Janeiro have been on strike since Tuesday to protest a bill, in discussion at the Legislative Assembly in Brasilia, on a reform that would open terminals and new ports to private investments.

Rio de Janeiro: Brazil plans to invest $28nn by 2016 in the port sector, according to Luciano Coutinho, president of the National Bank for Development (BNDES).

Rio de Janeiro: Vale lowered cargo volumes and therefore draught to accommodate Chinese regulations when Vale Malaysia called at Lianyungang earlier this month.

Rio de Janeiro: Petrobras has ordered 23 offshore support vessels to be built in Brazilian yards in the fourth round of its fleet renewal plan.

Shanghai: Brazil mining giant Vale's 400,000 dwt Vale Malaysia docked at Lianyungang port in China this week.

Luxembourg: Oslo listed seabed-to-surface engineering company Subsea 7 has been awarded a $350m, five year contract for a pipe laying vessel.

Rio de Janeiro: Brazilian President Dilma Rousseff has announced plans to set up “Hidrobras” - a new entity overseeing Brazil’s inland waterway ports, terminals, waterways and locks.

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