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Floating Production Systems: A Big Opportunity for Shipyards

Since the beginning of this year, orders have been placed for 17 floating production systems. The combined value of the fabrication contracts exceeds $16 billion. By year end there will likely be another five to eight contracts awarded and the overall contract value for the year will exceed $20 billion. Stated in terms of conventional ships, fabrication of floating production systems in 2013 will equate to orders for 220 VLCCs, 360 Suezmax tankers or 800 Panamax bulk carriers.