New dawn for LNG-FPSOs

As LNG newbuild contracts have been dawdling, it seems shipowners and shipbuilders have become more interested in LNG-FPSOs.

According to an overseas report, up to 30 LNG-FPSOs could be ordered this year, and South Korean shipbuilders Hyundai, Samsung and Daewoo are the most likely candidates to get these lucrative contracts. The demand for LNG has been increasing on a global scale, however the number of large-scale gas fields have been decreasing, and exploration has turned to small and medium sized fields. In the past it has been generally unprofitable to develop smaller gas fields using traditional methods, however, the development of the LNG-FPSO is expected to improve profit margins, allowing for a surge in order forecasts.

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