Malaysian floater specialist Yinson was set to enter a new round of negotiations with Brazil’s Petrobras this week as the pair look to finalise contractual terms for one of the Marlim floating production, storage and offloading vessels, writes Fabio Palmigiani and Xu Yihe.

Japan’s Modec was the low bidder in the tender, proposing dayrates of $602,654 and $569,465 for the Marlim-1 and Marlim-2 FPSOs, respectively.