Brazil shipbuilder files for bankruptcy protection

Brazilian shipbuilder Engevix Construcoes Oceanicas (Ecovix) has filed for bankruptcy protection from creditors, Reuters reports. The Rio de Janeiro-based company, a subsidiary of Engevix Engeharia SA, took the decision on Friday. It is $2.4bn in debt. Bankruptcy proceedings will be overseen at a federal commercial court in the southern state of Rio Grande do Sul.