After a slowdown in activity in 2020, the global floating production, storage, and offloading (FPSO) market experienced a strong rebound post-2021.

During this recovery period, there were at least five new FPSO orders placed annually. However, a combination of the tight supply chain and increasingly complex FPSOs designs, particularly due to the rising topside weights needed to accommodate carbon reduction strategies has placed upward pressure on costs for new facilities.

Despite the healthy pipeline of pre-FID projects requiring FPSOs, new FPSO orders in 2025 have been subdued. The macro headwinds and oil price volatility is compelling operators to tighten their purse strings and closely scrutinise costs for new developments.

To learn more about the FPSO demand in 2025, read the full report.

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