Brazil’s Enseada Industria Naval shipyard consortium has entered a judicially-sanctioned process to restructure 1.3 billion reais ($400 million) of debt, hoping to make a going concern out of a huge new shipyard that has hardly been used.
Enseada’s Paraguacu shipyard was hosting the construction of six drillships when payments from the Petrobras-sponsored rig-chartering entity Sete Brasil dried up in October 2014.
The
