Braskem expands logistics fleet with second ethane carrier vessel

SÃO PAULO - Braskem (B3:BRKM3, BRKM5, BRKM6; NYSE:BAK; LATIBEX:XBRK), a prominent player in the chemicals industry with annual revenues of $13.8 billion, announced the arrival of its second ethane carrier vessel, the Brave Future, as part of a strategy to enhance logistics autonomy and reduce maritime transport costs. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment.

The R$500 million ($91 million) vessel will operate routes connecting the United States, Mexico, and Brazil. This investment comes as InvestingPro data shows the company operating with a significant debt burden of $12.1 billion and facing challenges with cash burn. A christening ceremony was held at the YAMIC shipyard in China, where the ship was constructed.

The Brave Future measures 188 meters in length with a capacity of 36,000 cubic meters and can transport cargo at temperatures as low as -104°C. Financed by Ocean Yield and operated by Hartmann Reederei, the vessel features a dual-fuel engine that runs on bunker oil and ethane.

According to the company, the ship’s propulsion system produces approximately 40% lower CO₂ emissions compared to the average fleet currently in operation.

"The Brave Future is a strategic asset that expands our autonomy in the area of logistics, which provides greater predictability to operations," said Hardi Schuck, Director of Braskem Trading & Shipping, in a press release statement.

Prior to its christening, the vessel underwent sea trials to evaluate safety, speed, maneuverability, and equipment performance.

The Brave Future joins Braskem’s first ethane carrier, the Brilliant Future. The company expects delivery of four additional vessels in 2026 to further strengthen its maritime logistics capabilities.

Braskem, which operates 40 industrial units across Brazil, the USA, Mexico, and Germany, produces chemical and plastic solutions for various sectors including food packaging, construction, automotive, and agribusiness. While the company maintains a strong market presence with a market capitalization of $1.47 billion, InvestingPro analysis reveals several additional key insights about the company’s financial health and future prospects, available in the comprehensive Pro Research Report covering 1,400+ top stocks.

In other recent news, Braskem S.A. reported a remarkable 121% increase in its Recurring EBITDA for the first quarter of 2025, reaching $224 million. This improvement was driven by higher international spreads for resins and main chemicals, alongside an 11% rise in polypropylene sales in the U.S. and Europe. Braskem’s net income for the quarter amounted to $113 million, influenced by positive exchange variations and a higher gross margin. Additionally, Braskem Idesa, the company’s Mexican subsidiary, inaugurated a new ethane import terminal, designed to handle 80 thousand barrels per day, enhancing its polyethylene production capacity in Mexico.

In terms of credit ratings, Fitch Ratings and S&P Global Ratings both updated Braskem’s corporate credit ratings to BB, with Fitch maintaining a stable outlook and S&P assigning a negative outlook. These revisions reflect ongoing challenges in the global petrochemical sector and macroeconomic uncertainties. Furthermore, Braskem disclosed that Novonor S.A. and other entities have filed for antitrust approval for a potential share transaction with Brazil’s Administrative Council for Economic Defense. The completion of this potential transaction remains subject to several conditions, including compliance with existing obligations and negotiations with banks holding fiduciary assignments of Braskem shares.

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