Blog/News

From 2025-2029, Energy Maritime Associates (EMA) expects orders for 119 Floating Production Systems, with a Capital cost of $126 Billion, in its mid-case forecast. Over 70% of this investment would go towards the 54 FPSOs. Brazil will remain the largest FPSO market, more than Africa and the rest of South America combined. Newbuilt hulls will be the norm going forward, although converted tankers and re-use of existing FPSOs will play a role, particularly for smaller developments.

From 2025-2029, Energy Maritime Associates (EMA) expects orders for 119 Floating Production Systems, with a Capital cost of $126 Billion, in its mid-case forecast. Over 70% of this investment would go towards the 54 FPSOs. Brazil will remain the largest FPSO market, more than Africa and the rest of South America combined. Newbuilt hulls will be the norm going forward, although converted tankers and re-use of existing FPSOs will play a role, particularly for smaller developments.

The pause in large Floating Production orders continued in Q1 2024 as companies adjusted to new pricing realities and the supply chain worked through the backlog of orders placed in 2021-2022. The only large order so far in 2024 was for the Cedar LNG in Canada, which will be the first FLNG in North America: $1.5 billion for Samsung and $800 million for Black & Veach. In March 2024, Karmol placed an order with Seatrium for three FSRU conversions, with an option for a fourth unit.

The pause in large Floating Production orders continued in Q1 2024 as companies adjusted to new pricing realities and the supply chain worked through the backlog of orders placed in 2021-2022. The only large order so far in 2024 was for the Cedar LNG in Canada, which will be the first FLNG in North America: $1.5 billion for Samsung and $800 million for Black & Veach. In March 2024, Karmol placed an order with Seatrium for three FSRU conversions, with an option for a fourth unit.