Name: Consolidation and competition: the future of the FPSO contractor market
Brand: Wood Mackenzie
SKU: 229241
Price: 1350 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Insight 10 August 2026

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Report summary

The FPSO contractor market is undergoing consolidation. SBM Offshore and Modec have cemented their position as clear market leaders, underpinned by standardised newbuild programmes and long-term shipyard partnerships. Asian players such as Yinson are emerging as credible global alternatives, while mid-tier contractors navigate restructuring and strategic reviews. Meanwhile, leading shipyards are pursuing vertical integration strategies that could yet produce a credible new top-tier entrant. This insight examines consolidation dynamics across the FPSO supply chain and assesses the competitive outlook for each tier of the market over the coming decade.

Executive Summary
- SBM Offshore and MODEC cement their lead
- Yinson leads Asia's drive into global markets
- Mid-tier players at a crossroads
- Shipyard repositioning and vertical integration
- The financial dimension of consolidation
- A more concentrated market takes shape

Tables and charts

This report includes the following images and tables:

New build FPSO awards and standardised new build opportunities 2019-2030FPSO awards 2017-2026 YTD (inc. lease, operation and maintenance, EPCI and BOT contracts)