Eisa Files for Bankruptcy

zoomImage Courtesy; Eisa Brazilian shipbuilder Estaleiro Ilha S.A. (Eisa) has filed for bankruptcy having struggled for months with order cancellations and industry downturn. The announcement comes one day after the shipyard closed its doors due to money shortage that saw the shipbuilder lay off 3,000 of employees. The bankruptcy proceedings include the business headquarters located in the Governador Island and its subsidiary Eisa Petro Um, created to build ships for Petrobras at its yard in Maua. According to local reports, three oil tankers remain uncompleted at the Maua yard. The decision to file for bankruptcy was reached by the companys board and shareholders as the company seeks to preserve its sites and resume operations as soon as possible, local media cited the company as saying. The shipyard is engaged in building tankers for Petrobras and PDVSA along with platform supply vessels and container ships for Log-In Logistica. The shipyard is owned by German Efromovich, who also owns aviation company Avianca. World Maritime News Staff