A good 2017 seen for FPSO industry

Good business: File picture of an offshore FPSO Cendor of MISC, which according to UOBKayHian stands a better chance of securing a Brazil contract due to its partnership with Single Buoy Mooring.

PETALING JAYA: The floating, storage, production and offshore (FPSO) industry is likely to experience a good year in 2017, as more project deliveries or startups are expected to surface, according to UOB Kay Hian Malaysia Research. It says Bumi Armada Bhd, MISC Bhd and Yinson Holdings Bhd could benefit from contract flows.

The research house said in its published report that although the order book backlog for floating projects may be in declining mode, there were huge opportunities for FPSO contract flows in Africa, Brazil and Indonesia.