David Boggs is the Managing Director of Energy Maritime Associates, which publishes market leading reports on the floating production industry and advisory services for developments requiring FPSOs, FLNGs, FSRUs, Semis, Spars, TLPs, MOPUs, and FSOs.
David has over 15 years’ experience in the Offshore Oil & Gas Industry and was previously General Manager – Commercial at Tanker Pacific Offshore Terminals in Singapore, responsible for all business development and commercial activities for a fleet of leased FSO and FPSO units. Mr. Boggs has a BA cum laude from Harvard University and an MBA with honors from the University of Texas at Austin, where he was president of the Energy Finance Group.
Out of a global total of 28 floating production, storage and offloading (FPSO) vessels that are under construction, 22 are being built at shipyards in China, South Korea and Singapore that are heavily affected by COVID-19. If the epidemic escalates, the delays could increase to nine or even 12 months, especially taking into account the restricted time windows for heavy transport, installation and hook-up. The average development time for an FPSO is 36 months, meaning that companies could face a 30% delay.