The newbuild was formally handed over at a ceremony at Mawei Shipbuilding Group's Fujian Mawei shipyard in the south-eastern Chinese city of Fuzhou on Tuesday.

GranEnergia, owned by Brazil’s Gradin family, has taken aim at the flotel market since incorporating in 2011, and the CSS Olympia is its first major investment.

As Upstream first reported last June, the newbuild has already been snapped up by Brazilian giant Petrobras on a four-year tender.

The