The market for floating production units is forecast for a rebound, with an annual order of up to 135 production floaters expected over the next five years, according to the International Maritime Associates (IMA). IMA's chief Jim McCaul said the floating production market bottomed out in the fourth quarter of 2009 and is set for a strong rebound. "There are 159 projects in the planning pipeline that potentially require floating production systems. IMA expects these visible projects, along with others yet to emerge, to produce orders for up to 135 production floaters annually over the next five years," said McCaul. He estimated that a total of 245 production floaters will be in service or available by the end of 2010, which is more than double the number of units 10 years ago.
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