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SBM Offshore orders second FPSO hull at Waigaoqiao Shipbuilding

Dutch firm SBM Offshore has signed an agreement with China’s Waigaoqiao Shipbuilding yesterday for the construction of a second FPSO hull as part of the company’s Fast4Ward program.

The construction of the hull will start in January and complete in 24-30 months.

SBM Offshore has previously ordered a FPSO hull with options to build another four at Waigaoqiao last year.

In an earlier statement, SBM Offshore CEO Bruno Chabas said the FPSO market recovery was accelerating on the back of industry fundamentals and the investment on the new FPSOs was required to secured future production.

“SBM Offshore is uniquely positioned to benefit from the current upturn. The most economically attractive deepwater developments require high production capacities, which can benefit most from shorter cycle time to first oil, combined with larger and more complex processing capacities. Fast4WardTM facilitates this goal, lowering costs and providing a reliable execution plan,” said Chabas.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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