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Available FPU count at all-time high

Offshore staff

SINGAPORE – The inventory of floating production units worldwide stands at 277 reports Energy Maritime Associates. Of the total, 62% are FPSOs with the remainder divided among semisubmersibles, TLPs, spars, barges, and floating regasification units.

Eight production units have become available since EMA’s July report, decreasing the overall utilization rate to 92.8%.  Another 92 floating storage/offloading units (without production capability) are in service. 

The number of available FPSUs is at an all-time high with 16 FPSOs, 3 production semis, and one spar idle. Of the 20 available units, six or seven are likely candidates for scrapping, five or six should receive redeployment contracts within a year or two, while it may take longer for the remaining units. 

To date, 12 FPSOs, three FSRUs, two TLPs, one spar and one production barge have been ordered in 2013 – 19 units in total.  This is in line with the 17-year average of 19.2 per year, but below EMA’s forecast. The number of potential projects remains strong, says the report, with 220 in the planning stage and 60 in bidding or final design stage.

11/26/13

FPU totals by year
FPU totals by year. Courtesy Energy Maritime Associates.

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