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. In other words, it is a big market. Yet relatively few shipbuilders are active in this sector.
Floating Production Systems to Grow 40% in Five Years
IMA has just completed an in-depth analysis of the floating production sector. The study profiles the deepwater industry, examines the dynamics driving the sector and forecasts orders for floating production systems between 2013 and 2017. Highlighted below are some key findings in the study. There are now 264 floating production systems in operation. The number of units is 25% greater than five years ago, almost 85% higher than 10 years back and triple the number of units 15 years ago. Most of the growth has been in the number of Floating Production, Storage and Offloading Vessels (FPSOs).
Offshore Floating Production: 40% Growth in Five Years
IMA has completed an in-depth analysis of the floating production sector – including a forecast of orders for additional floating production systems between 2013 and 2017. Highlighted below are some key findings in Floating Production Systems: assessment of the outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs. Inventory of floating production systems now at 264 units – This figure is 25% greater than five years ago, almost 85% higher than ten years back. FPSOs account for 63% of the existing systems. The balance is comprised of production semis, tension leg platforms, production spars, production barges and floating regasification/storage units. Eight units (all FPSOs) are off field and available for reuse – resulting in an overall utilization rate of 97%.
Floating Production Orderbook Picks Up Steam
IMA has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs is the 48th in a series of IMA reports on the deepwater production sector that began in 1996. Some highlights from the new report are below. Recent Order Pace Consistent With Our Five Year Forecast – In March we forecast orders for 128 to 192 production floaters over the next five years – an average of 26 to 38 production floaters annually.
Offshore Production Systems Analysis Published by IMA
29 Floating production units ordered over the past 12 months according to a recently published IMA in-depth analysis. International Maritime Associates (IMA) has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs is the 48th in a series of IMA reports on the deepwater production sector that began in 1996. Some highlights from the new report are below.
Planned Floating Production Projects at An All-Time High
IMA has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs is the 47th in a series of IMA reports on the deepwater production sector that began in 1996. Some highlights from the new report are below. Order backlog for production floaters at all-time high – 74 production floaters are currently on order. This number is 40% higher than the backlog a year ago – and more than double the backlog in mid-2009.
Planned Floating Production Projects Hits All-Time High
IMA has just completed an in-depth analysis of the floating production sector. The 175 page report Floating Production Systems: Assessment of the Outlook for FPSOs, Semis, TLPs, Spars, FLNGs, FSRUs and FSOs is the 47th in a series of IMA reports on the deepwater production sector that began in 1996. Some highlights from the new report are below. Order backlog for production floaters at all-time high – 74 production floaters are currently on order. This number is 40% higher than the backlog a year ago – and more than double the backlog in mid-2009.
