7/21/2019 What is the Future for FPSO Shipyards

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 ear Te

r

m

oday, most shipyards still have relatively large o rder

ing years. As As of

Sembm arine still have net order

of 11 and 10.9 billion respectively. Cosco also re-

book at US 8.1 billion with progressive

ies up to 2017. That said, the order books may be

ost shipyards also expect customers to defer the delivery

For the big three Korean shipbuilders, analysts

predict the worst may be behind, in terms of earn-

ings but a sustained recovery is unlikely with limit-

ed order flows expected this yea r. Together with

labour unrest due to restructuring moves, the com-

panies will face many tougher years ahead amid

the continued oversupply.

In China, smaller shipyards with weak financials

are expected to face problems leading to possible

bankruptcy. Bigger shipyards supported by the

state, previously regarded by many as “financially

safe havens” are no longer the case now as the

country’s economy is facing the slowest expansion

in more than two decades. In the face of low

orders and cost overruns from com plex orders and cost overruns from complex offshore

projects, bigger state-owned shipyards are also

facing financial and execution risks.

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