This year saw the Company‘s turnkey order book shrink, reflecting a reality in the industry as the depressed market for projects continues. SBM Offshore had foreseen this and has been actively optimizing its designs and engaging with clients, transforming its product offering, by leveraging its position as market and technology leader in offshore mooring systems since developing the first mooring systems almost 60 years ago.
Going forward the Company‘s strategy is to standardize elements of its designs and to leverage lessons learnt to bring solutions to the table that better fit the constraints of a-limited climate.
From a delivery perspective for SBM Offshore‘s turnkey division, the year represents a very active and productive year with two complex turret mooring systems progressing towards successful delivery to clients.1 Within the context of industry performance, this number is significant and cements SBM Offshore‘s reputation as a leader inI for the turret market.
The Company is investing in its capacity in the turnkey division in order to be ready for when the market picks up.