May 2018 Monthly Floating Production Systems Report
Crude spot prices have moved close to $80, propelled by strong oil demand growth, curtailed production and geopolitical worries. This price level – and potentially higher -- increasingly looks sustainable over the near to mid-term. The futures market has recently become much more bullish on crude pricing. Meanwhile, CNOOC ordered an FPSO for use in the South China Sea, Exmar signed a 10 year charter with Gunvor for use of its LNG regasification barge in Bangladesh, BW Offshore looks like the winner of an FSRU contract in Brazil and Petrobras is now reviewing offers for the Buzios #5 FPSO. All this is described in the May 2018 WER report. Also in the data section of the report are details for 227 floater projects in the planning stage, 48 production or storage floaters now on order, 300 floating production units currently in service and 29 production floaters available for redeployment contracts. Charts in the report update the location where floating production and storage systems are being planned, operating, being built and to be installed. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 21 May.
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